S. Korea eyes electric power market niche in Laos

The Republic of Korea is looking to expand its market in Laos and seeking Lao business partnerships in the sector of electric power.
To promote cooperation between the two sides, a pivotal event titled the “Laos-Korea Electric Power Seminar” and a business matching session named “2024 Power Equipment and Supplies Trade Delegation Session”, were held at the Lao Plaza hotel on Tuesady June 25.

Lao and Korean company representatives join officials from the two countries for a photo at the event in Vientiane on Tuesday.

The events were hosted by the Korean Electric Power Corporation (KEPCO) in partnership with the Ministry of Energy and Mines of Laos, and orchestrated by the Korea Trade-Investment Promotion Agency (KOTRA) in collaboration with the Korean Electrical Manufacturers Cooperative (KEMC).
The seminar commenced with opening remarks by the Vice President of KEPCO, Mr Mun Iljoo. This was followed by welcoming remarks from the Deputy Director General of the Department of Energy Policy and Planning at the Ministry of Energy and Mines, Mr Souliya Sengdalavong.
Congratulatory remarks were delivered by the Director General of KOTRA Vientiane, Mr Park Jungwe, and Minister Counselor of the Embassy of the Republic of Korea to Laos, Mr Kim Jongmin.
Key participants included prominent figures such as the Deputy Managing Director of EDL-GEN, Dr Bounthene Chansamay; Deputy Managing Director of ECI, Mr Phoumaly Sihaboud; and Deputy Manager of the Legal Department at EDL, Mrs Sirisopha Vongthevanh.
Speaking at the seminar, Senior Manager of the Energy Ecosystem Creation Department at KEPCO, Mr Taekyung Kim, presented an insightful overview of Korea’s electricity industry and projects.
Mr Lamphone Dimanivong, from the Ministry of Energy and Mines, elucidated the development and planning of Laos’ power sector. EDL contributed by sharing their electrical equipment purchasing and maintenance plans, along with procurement guidelines, while EDL-GEN expounded on their energy project development and electrical equipment acquisition processes.
 The following session, dubbed the “2024 Power Equipment and Supplies Trade Delegation Business Matching Session”, witnessed robust interactions with over 70 meetings taking place between 10 leading Korean companies and 20 Lao companies.
Noteworthy Korean participants included Kunyoung Total Electric co., Ltd., Entec Electric & Electronic co., Ltd., Daeyeon Corp, Joongwon Co., Ltd., KD

(From left) Dr Bounthene Chansamay, Mrs Sirisopha Vongthevanh, Mr Phoumaly Sihaboud, Mr Souliya Sengdalavong, Mr Mun Iljoo, Mr Kim Jongmin, and Mr Park Jungwe gather for a group photo at the seminar.

Power Co, Shinsung Industrial Electric co., Ltd., Daeryuk Co., Ltd., Kevin Lab Inc, Dong Yang EEC Co., Ltd., and Hyuphwa Electric Industry.
These companies showcased cutting-edge products such as Compact Grounding Devices, Polymer Insulated Reclosers, Closed Switchboards, Distribution Boards, Switchgear, Molded Circuit Breakers, Energy Management Systems, Eco-friendly Gas Insulated Switchgear, Pole-phase Transformers, and Series Reactors.
The primary objective of the trade delegation was to catalyse cooperation and foster robust partnerships in the electrical equipment sector between Laos and the Republic of Korea.
The event provided an invaluable platform for Lao entities, including EDL, EDL-GEN, ECI, Phongsubthavy, CS Energy, Muang Khong Clean Energy, VASE, ASA Power Engineering, and various electrical importers and telecom companies, to engage in fruitful business matching.
Mr Mun Iljoo expressed a strong commitment to collaborating with Laos to fortify its electricity sector.
Mr Souliya Sengdalavong highlighted Laos’ keen interest in attracting Korean companies for energy project development, particularly in the solar power sector, where EDL plans to construct projects to reduce electricity imports.
Mr Kim Jongmin underscored Korea’s significant investment of over US$100 million in more than 140 Official Development Assistance projects in Laos, reiterating the Korean government’s unwavering support.
M. Park Jungwe said Korea’s full support in developing the Lao energy sector centred on utilising efficient electrical equipment to mitigate greenhouse gas emissions.
This landmark event signifies a significant step towards enhanced bilateral cooperation, potentially transforming the electric power landscape in Laos through innovative Korean advancements and strategic partnerships.

By Times Reporters
 (Latest Update June 28, 2024)