Energy companies from Naju are expanding their operations into Laos.
On October 20, the city of Naju in Gwangju reported that local energy companies were selected for the government's international energy research and development (R&D) project in June. On this day, they held the 'Korea-Laos International Energy R&D Launch Report Meeting and Business Forum' in Vientiane, Laos.
Additionally, Naju signed a memorandum of understanding (MOU) with Savannakhet Province to collaborate on energy industry and economic cooperation.
The agreement aims to promote the international joint R&D project selected in June and to explore new cooperation opportunities for technology exchange, investment, and commercialization between companies in both countries based on local technology verification.
Participating in the international joint R&D project are Naju's energy companies Green ENS and Daon Grid, along with Hyundai Solar Tech, Energy Valley Business Development Institute, and Sungkyunkwan University.
These companies and institutions plan to develop microgrid technology suitable for the power environment of local villages and industrial facilities in Laos and to conduct verification locally.
They aim to establish a foundation for expanding their business into Southeast Asia by securing technical achievements and local business experience necessary for winning overseas projects.
Notably, the launch meeting and business forum included not only the existing R&D participants but also nine additional energy companies from Naju.
The participating companies shared information about Laos' energy industry and investment environment and met with local government officials and business representatives to explore various collaboration possibilities, including technology exchange, investment, and joint projects.
The signing ceremony was attended by key representatives from Laos' investment promotion agencies, power companies, and national chambers of commerce, as well as officials from energy companies and research institutions from both countries.
They discussed local energy issues, including the verification of microgrid technology, and explored cooperation plans for the expansion of Korean companies' investments and subsequent project development in Laos.
Under the agreement, the local governments of both countries will promote technology exchange and joint verification projects in new energy industries such as solar power, energy storage systems (ESS), smart grids, and microgrids. They will also support corporate entry and investment expansion using industrial complexes and special economic zones (SEZs) and work together to identify follow-up cooperation projects that involve companies and institutions from both regions.
To ensure the practical implementation of the agreement, the Hallasan Industrial Culture Exchange Association (KLICEA) and the Energy Valley Business Development Institute (EVEDI) will also participate as supporting organizations. These institutions will assist in corporate exchanges, technology cooperation, local network building, and the identification of subsequent projects to ensure that the MOU leads to concrete business outcomes.
The city of Naju plans to utilize this opportunity for local companies to validate their technological capabilities and secure achievements in overseas markets.
In particular, they aim to expand their reach into Southeast Asian markets such as Vietnam and Thailand based on the local verification experience and cooperation network established in Laos, thereby broadening export and overseas project opportunities for regional energy companies.
Naju Mayor Yoon Byeong-tae stated, “We will actively support the technological achievements and cooperation networks secured in Laos to lead to substantial investments and overseas project acquisitions.”
* This article has been translated by AI.
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