ULSAN < invest Korea

Small- and medium-sized businesses from Ulsan participated in the 14th Asian Oil, Gas & Petrochemical Engineering Exhibition (OGA 2013), held from June 5 to 7 in Kuala Lumpur, Malaysia, with the support from Ulsan city and the Ulsan branch of the Korea International Trade Association (KITA).

At the exhibition, five promising Ulsan companies held 267 consultation sessions to reach consultations of USD 20.06 million and exports contracts of USD 4.30 million.

At this year’s biannual exhibition, 12 countries including the United States, England and France held exhibition booths.

Kyung Duk Industry CO. LTD which showcased high-performance valves at the expo successfully held an exports consultation of USD 3 million with a vendor who imports valves from the United States and supplies to Petronas, the largest state-owned oil company in Malaysia.

The buyer showed a deep interest as he visited Kyung Duk Industry’s booth seven times during the exhibition.

The vendor agreed to switch the U.S, products with valves produced by Kyung Duk Industry, which has a manufacturing technology of ball valves as strong as diamonds, and history of supplying to SK Energy, S-Oil and Chevron Indonesia.

A KITA official who supported consultation sessions noted that buyers are willing to work with Korean companies at good conditions, as some of them suggested exemption of pre-qualifications if the companies had a history of supplying to corporations. He added that KITA plans to provide consistent support so that many promising oil and gas related companies in Ulsan can enter the global market.

** This article was translated from the Korean.