▲KTC's promotional booth at the 2024 Korea Electric Industry Exhibition & Korea Power Industry Fair
The Korea Testing Certification (KTC, Director Ahn Sung-il) announced its participation in the "2024 Korea Electric Industry Exhibition & Korea Power Industry Fair (Seoul International Electric Fair & Power Generation Korea 2024, hereinafter referred to as the exhibition)."
The exhibition, organized by the Ministry of Trade, Industry and Energy and hosted by the Korea Electrical Manufacturers Association and the Korea Electric Power Corporation, took place over three days from April 3rd (Wednesday) to April 5th (Friday) at COEX A and B Halls in Seoul.
The exhibition is the largest domestic event introducing the latest technologies and products in the fields of transmission and distribution, power generation and nuclear power, renewable energy and smart grids, and digital transformation. This year's exhibition, held under the theme of Sustainable Energy Technologies, also provides an opportunity to verify cutting-edge smart energy solutions through the Korea Smart Grid Expo 2024, hosted by the SG Association.
Following its participation in the exhibition last year, KTC will once again showcase its testing and evaluation capabilities in power equipment, ESS (Energy Storage System), and solar power generation this year, further solidifying its position as a globally competitive testing and certification body leading the digital and green transformation of the industry.
In particular, KTC plans to widely promote its testing and certification support services for power equipment, such as circuit breakers, power cables, and power transformers, centering around the Power Infrastructure Center located in Gokseong, Jeonnam Province. They will also introduce differentiated technical capabilities such as DC 3,600V short-circuit testing facilities and 500kV AC/DC high-voltage cable Type Test facilities, as well as UL certification support services required for exports to the United States and North America as an international testing facility in the field of wire solutions.
Furthermore, KTC will also participate in the Korea Smart Grid Expo 2024, jointly held with the exhibition this year, focusing on promoting the ESS Fire Safety Verification Center, the world's largest and Korea's only one-stop testing and certification service for ESS fire safety, established in Samcheok, Gangwon Province in September 2023.
KTC will also introduce efforts such as ▲Establishing an integrated evaluation system for ESS ▲Supporting ESS companies through international standardization ▲Supporting overseas market entry strategies, all aimed at achieving the ESS development strategy announced by the Ministry of Trade, Industry and Energy in October 2023 (achieving a 35% global market share in ESS by 2036).
In the domestic electrical equipment sector, it is estimated that production increased by 1.0% to 51.1 trillion won and exports increased by 10.6% to 153 billion dollars compared to the previous year, as global clean energy investment increased due to the enactment of the US Inflation Reduction Act and the implementation of the EU Carbon Border Adjustment Mechanism (CBAM). It is analyzed that the increase in exports to North America and the Middle East also had an impact.
The outlook for 2024 is even brighter, with domestic electrical industry production expected to reach 51.1 trillion won and exports expected to reach 159 billion dollars. The continuous increase in investment in future power grid construction and power system business, aiming for national power mix realization, is expected to act as a major factor in production improvement. The large-scale projects for aging power infrastructure in North America and massive national projects in the Middle East are expected to expand opportunities for entry into large-scale power infrastructure markets.
Director Ahn Sung-il of KTC stated, "KTC provides comprehensive testing and certification services for the power industry, from power equipment to renewable energy, including ESS," and added, "We will further expand the foundation for sustainable growth in the power sector, contributing to strengthening the competitiveness of our companies and supporting exports to overseas markets."
