Samsung E&A is teaming up with the Korea Gas Safety Corporation to target the market for diagnosing and renovating aging overseas plants.
On October 12, Samsung E&A announced that it has signed a memorandum of understanding (MOU) with the Korea Gas Safety Corporation to strengthen collaboration in plant diagnosis technology and overseas projects.
The signing ceremony took place on October 8 at the Global Engineering Center (GEC) in Sangil-dong, Gangdong-gu, Seoul, attended by Samsung E&A CEO Hong Nam-goo and Korea Gas Safety Corporation CEO Park Kyung-guk, among other top executives from both companies.
This agreement establishes a cooperative framework covering all areas from plant safety diagnosis to design, procurement, and construction (EPC). The plan is to combine Samsung E&A's experience in domestic and international plant projects and partnerships with major state-owned oil companies abroad with the comprehensive diagnostic infrastructure and safety technology of the Korea Gas Safety Corporation.
Following a letter of intent (LOI) signed in November last year regarding cooperation in the diagnosis sector, this MOU specifies the scope of collaboration. Key areas of cooperation include: investigation and business development for aging plants, third-party technical verification of suitability and equipment lifespan, safety inspection support such as phased array ultrasonic testing (PAUT), and sharing of experiential assets.
Based on this foundation, the two companies plan to identify new business opportunities targeting aging plants operated by major overseas clients. They aim to systematically pursue the modernization market for aging overseas plants, from precise safety diagnostics to proposing renovation plans and executing actual projects.
A Samsung E&A representative stated, "This collaboration will serve as an excellent example of public-private partnership in the plant sector, where a global EPC leader and a leading safety diagnosis company work together. We will actively pursue collaboration and project identification to aggressively target the aging plant modernization market."
A representative from the Korea Gas Safety Corporation remarked, "This agreement lays the groundwork for applying domestic safety diagnosis technology to overseas plant sites. As a public institution dedicated to ensuring public safety, we will contribute to safe plant operations in international settings."
Meanwhile, Samsung E&A recently unveiled an 'LNG Module Package' for constructing small to medium-sized LNG liquefaction plants at Gastech 2026 held in Bangkok last month, marking a significant step in targeting the related market. This solution combines Honeywell's process technology with its own modular technology, claiming to reduce the overall construction period by approximately 20% compared to traditional methods.
* This article has been translated by AI.
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