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S. Korea to host annual event to connect local firms with global orders

All Headlines 10:24 April 17, 2018

SEOUL, April 17 (Yonhap) -- An annual event will open in Seoul on Tuesday to connect local construction firms and plant builders with overseas agencies that are planning major projects, the industry ministry said.

The Global Project Plaza 2018 will be held for three days in Seoul in cooperation with the Ministry of Trade, Industry and Energy, the Korea Trade-Investment Promotion Agency and the Korea Plant Industries Association, ministry officials said.

Some 70 agencies from 37 countries will participate in the event, with their orders estimated to total US$74.8 billion.

One-on-one consultations are expected between 204 South Korean firms and issuers of the orders in transport, environment, renewable energy, power generation plants and other projects, according to the event's organizers.

Related U.S. agencies have been invited to explore possibilities in their infrastructure investment plans worth $1.5 trillion, they said.

The event has been held yearly since 2008, resulting in successful bids for 23 projects valued at $4.7 billion.

"South Korea can execute global projects at the best budget and in a timely manner, using its high-tech plant and infrastructure construction skills that have been built through its industrialization process," Deputy Minister Kang Sung-cheon said. "We can also transfer the experience and know-how unique to South Korean firms."

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