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33 MOUs signed between Korean and Polish companies

Posted July. 15, 2023 08:03,   

Updated July. 15, 2023 08:34


A total of 33 memoranda of understanding (MoUs) were signed between companies and organizations of the two countries in the fields of nuclear power, batteries, future vehicles, and hydrogen at the Korea-Poland Business Forum attended by President Yoon Suk Yeol, who is visiting Poland, on Friday (local time).

The forum was attended by about 350 businessmen and government officials from Korea and Poland, including the economic delegation accompanying the visit. Eleven MOUs were signed in high-tech industries such as batteries and future cars, 13 in energy segments such as nuclear power plants, hydrogen, and green energy, and nine MOUs in service fields such as finance and tourism.

In the area of nuclear power plants, companies such as Doosan Enerbility, Hyundai Engineering, Daewoo E&C, and BHI signed six MOUs with Polish companies for nuclear power plant cooperation. The introduction and development of nuclear power generation in Poland, cooperation related to the construction of new nuclear power plants, human resource exchange and training in the field of nuclear energy, joint research collaboration, and supply of nuclear equipment to the Pątnów nuclear power plant project.

In the battery industry, an MOU was signed between the Korea Battery Industry Association and the Polish Automobile Industry Association. “Poland has become virtually the largest battery producer in Europe, accounting for 30% of the total volume used in Europe with the investment of LG Energy Solutions," Choi Sang-mok, Senior Presidential Secretary for Economic Affairs, said in a local briefing. With the MOU as an opportunity, the scope of cooperation has expanded from existing electric vehicle batteries to batteries for energy storage systems (ESS), and more advanced battery cooperation between the two countries is expected, such as responding to supply chain risks jointly.”

As for green energy, Samsung C&T and BHI signed MOUs with Polish companies for cooperation in carbon reduction combined cycle power plant projects, net zero-linked energy development, and construction cooperation.

President Yoon stressed, “Economic cooperation between the two countries is starting a new chapter, with the largest-ever export of defense products to Poland last year and a significant increase in trade between the two countries every year. As Korean battery and material parts companies have built Europe's largest battery ecosystem in Poland, cooperation should be expanded to defense and infrastructure and high-tech industries such as aerospace, smart factories, and green energy.”

Joo-Young Jeon aimhigh@donga.com