[Korea`s nuclear technology (5)] Hyundai E&C a leader in nuclear plant building

This is the fifth in a series of articles that highlight the challenges and opportunities facing Korea`s nuclear power industry. - Ed. By Cho Chung-un A Korean consortium`s winning of the $40 billion nuclear power contract with the United Arab Emirates last year proved that the world has started to recognize the country`s capability in building and operating atomic power plants, industry and government officials said yesterday. Hyundai Engineering and Construction, the nation`s biggest builder -- also is the leader in nuclear power plant construction -- is a major member of the consortium that has drawn attention at home and abroad. "Our ultimate goals are to establish nuclear energy`s reputation as reliable source of clean and safe energy and to assist Korea in becoming a leading overseas energy developer," said Kim Joong-kyum, CEO and president of Hyundai E&C. The country`s No. 1 builder, both in market capitalization and construction capability, has built 12 out of 20 atomic plants in Korea, including the Kori nuclear power plant`s unit 1 to 4, the Wolseong nuclear power plant`s unit 1-2 and the Yeonggwang nuclear power plant`s units 1-6. Additionally, it also participated in building a nuclear power plant in North Korea, which was then led by the Korean Peninsular Energy Development Organization`s a few years ago. Hyundai E&C is currently building an export model generator for unit 1 and 2 of the Shinkori nuclear power plant and Korea`s first 1,400 megawatt-level facility for its unit 3 and 4. The unit 3 and 4 with the Advanced Power Reactor 1,400 can produce 23 billion kilowatts per hour of electricity a year, enough energy to power Ulsan. Hyundai is adopting a new engineering method for the Shinkori unit 1 and 2 projects to reduce damage to the surrounding environment, particularly marine life. The company is the only Korean builder that has successfully constructed a Pressurized Water Reactor and a Pressurized Heavy Water Reactor. Based on this, Hyundai E&C has improved the performance of nuclear power plants by executing the replacement of steam generators for the Kori nuclear power plant`s unit 1 as well as facilities that safely store spent fuels. Safety first "Safety must be the ultimate priority in the construction of nuclear power plants, exhaustive quality control measures must be in place all the way from the design stage, and everything from manufacturing to construction and operation must be executed without error," the company said. Construction and operation of Kori Nuclear Power Plant unit 1, the country`s first nuclear power plant, depended wholly on foreign technologies. But Hyundai E&C opened a new era by adapting construction methods from foreign companies and started to build other nuclear power plants in Korea employing locally developed methods. In 1995, Hyundai succeeded in building nuclear a power plant in Yeonggwang with the methods. "With the completion of Yeonggwang nuclear power plant, the company was recognized for its advanced nuclear technologies by the American Society of Mechanical Engineers, the world`s leading authority in the field," according to the company. Hyundai goes global Hyundai E&C is now ready to enter markets around the world. In 2004, it signed a memorandum of understanding with Vietnam`s Lilama for further technological cooperation. It is even participating in preparatory work of the first commercial operation of nuclear power plant in Indonesia, which is slated for 2016. The builder is expecting growing demand for atomic power generation plants around the world. The International Atomic Energy Agency forecasts a rapid growth of the nuclear power market -- around 400 new units will be constructed around the world by 2030. The reason why Korea`s nuclear power plant technologies are grabbing attention is that the country has improved their operational capability to world-class levels over the past 30 years. Korea`s capacity factor -- the actual power output as a percentage of maximum possible power output -- was 93.4 percent in 2008 and 91.7 percent in 2009. This far exceeds the world average and is even higher than countries with advanced nuclear power technologies, such as France and Japan. Korea ranked first in capacity factor, among the 16 countries possessing more than six reactors, in 2008. Outstanding manpower management is another major factor to Hyundai`s success. "Our engineers with experience and technological knowhow are the most important parts of the company`s assets," he said. World-class builder Established in 1947, the company went through the country`s post-war recovery in the 1950s and rapid economic growth during the 1970s and 80s. Hyundai E&C ranked top in a comprehensive evaluation that measured construction results, financial conditions, technological abilities and external market credibility last year, the CEO said. "It is evolving from a relatively simple, labor-intensive industry into a new and extremely complex one that depends upon the interplay of technology, knowledge, and financing," he said. Hyundai E&C plans to develop design, procurement, construction management and project management abilities to firmly become a world-class builder. To do this, the company will diversify its business portfolio. Not only expanding business in nuclear reactors, it will also seek business opportunities in water management and desalination industries. The new and renewable energy sector -- including wind power, tidal power, and photovoltaic power is also important for Hyundai E&C`s future, Kim said. (christory@heraldm.com)