Corporate Updates

GE Energy provides clean energy products in Korea

Korea is the worlds eighth largest consumer of energy

Koreas first integrated gasification combined cycle power plant, a type of renewable energy production unit, broke ground last month in Taean, South Chungcheong Province.
The 300-megawatt cleaner coal facility will turn coal into synthesis gas, then remove impurities from the coal gas before it is combusted and turn any pollutants into reusable byproducts, resulting in lower carbon emissions.
Korea Western Power Co. picked General Electric as the supplier of a 7F Syngas Turbine, a D11 steam turbine, a heat recovery steam generator and associated equipment for the new plant in Taean, about 100 kilometers southwest of Seoul. GE also will provide 10 years of maintenance service for the plant.
GEs syngas turbine technology underscores our companys commitment to powering the world with cleaner energy products, said Gong Sung-do, president of the Korean arm of GE Energy.

It supports a role for coal, an abundant and cost-effective fuel source, in a cleaner energy economy. We are very pleased that our technology has been selected by KOWEPO for this milestone project, which will demonstrate the important role IGCC can play in Asias energy future.
Gong, who took helm of GE Energy Korea in May, said Korea is highly significant to GE Energys business in four ways.
Korea, first of all, is the worlds eighth largest consumer of energy, with annual consumption of some 225 million tons of oil equivalent last year.

Secondly, our Korean clients do a lot of overseas projects, helping us make inroads to foreign markets. Korean companies dominate the engineering, procurement and construction market in the Middle East, and show high market shares in oil refineries and petrochemical plants abroad as well, Gong said in an interview with The Korea Herald.
Gong also pointed to Koreas high-skilled human resources with an especially deep knowledge base in IT, and the high quality of Korean suppliers products.
GE Energy Korea aims to more than double its sales in the next three to four years. Its sales this year are estimated at $1.7 billion, or about 30 percent of GE Koreas total.

GE Korea also has healthcare, aviation, transportation, capital and home and business solution businesses under its wing.
GE has been making major investments in Korea, and plans to expand investment by about 20 percent over the next two to three years.

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