- The first vendor fair held in Korea for a foreign project
- Contributing to job creation by offering export opportunities to Korean SMEs


■ Korea Trade Insurance Corporation (K-SURE, www.ksure.or.kr, Moon Jaedo, president) has rolled up its sleeves to support Korean constructors’ participation in overseas plant construction projects and help their overseas business under tight global market conditions.


■ K-SURE announced that it would hold the “K-SURE Vendor Fair” for two days from Tuesday, January 23 to 24 at the main atrium in its Headquarters located in the center of Seoul. The event will be held to promote Korean SMEs participation in the Duqm Refinery Project of Oman. For the event, DRPIC, the sponsor of the project and six plant companies will join to explain about the project and meet Korean SMEs specialized in plant parts and equipments.

○ Also, not only the awardees of the project, Daewoo Construction and Samsung Engineering, the purchasing and procurement managers of Petrofac (UK), Tecnicas Reunidas (Spain), Saipam (Italy), CB&I(the Netherlands) will join the event to meet more than 200 Korean suppliers participating in the event.

○ The Duqm Refinery Project, sponsored by DRPIC, a joint venture (JV) between Oman and Kuwait, is USD 8.2 billion of project, and through this, the JV will build oil deposits, pipes, refineries and export terminals in the Duqm Special Economic Zone in Oman.


■ President Moon of K-SURE stated that “With the list of project vendors not yet finalized, K-SURE Vendor Fair would provide the window of opportunity to Korean part and component makers for showcasing their superb quality and competitive price thus having a chance to export their products.”


■ He stressed that the event would offer Korean SMEs a chance of win-win growth both to Korean SMEs and construction majors as the project would be an opportunity for Korean part and equipment makers to export their products. So far, for their lack of business network and sales channels, Korean part and component makers have been in tough situations in their overseas business despite the superior quality of their products.

○ President also added that “Through events like K-SURE Vendor Fair, K-SURE will always be at the forefront of Korean SMEs’ expansion of global market frontier.”