JEOLLABUK-DO < invest Korea

Dayou Networks Co., fledgling renewable energy unit of South Korea’s mid-sized conglomerate Dayou Group, will install necessary infrastructure to power manufacturing facilities of sister companies with solar energy.

According to industry sources on Monday, Dayou Networks will build 2,200-kilowatt solar power generators at its affiliates including home appliance maker Dayou Winina Co. and auto parts maker Dayou Automotive Seat Technology Co. at a cost of nearly 3.5 billion won ($3.1 million). The company is waiting for state approval on its plan to establish solar power system at its manufacturing sites by the end of this year.

The solar power facilities will be installed at Dayou Winia’s new home appliance plant in Gwangju, and also at Dayou Automotive Seat Technology and Dayou Global’s automotive parts factories in Jeonju, North Jeolla Province.

Dayou Networks is in discussion with Dayou Winina and Dayou Montvert Country Club to rent out their excess land for solar power business. The company plans to conduct a feasibility study this year and shape out a plan next year.

The company installed solar panels on the rooftops of Automotive Seat Technology and Dayou Service buildings early this year, and has supplied 90,956 kilowatts of electricity to state-run Korea Electric Power Corp. every month since January from its solar panels.

Dayou Networks until recently had focused on three business sectors - auto parts like car seat heating pad, communication equipment, and savings bank, and posted 434.1 billion won in sales last year. The company made a foray into solar power business last year following Korean government’s promotion on renewable energy industry.

Daeyou Group already has outlined adding solar power facilities at all Dayou buildings, said Nam Woo-joon, head of Dayou Networks’s telecommunication division. The group wants to accelerate the business under the new government’s policy to shut down coal-fired thermal plants and nuclear reactors to speed up developments and use in renewable energy.


Nam Woo-joon, head of Dayou Networks’s telecommunication division is presenting the company’s solar power business plan.

By Ahn Gab-seong

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Jun. 13, 2017)