Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
HanmiGlobal joins refurbishment of Romania's Cernavoda nuclear plant
The Cernavoda Nuclear Power Plant in Romania / Courtesy of Korea Hydro & Nuclear Power
By Park Jae-hyuk
HanmiGlobal, Korea's leading construction project management company, said Wednesday it has signed a 10 billion won ($7.2 million) deal with Korea Hydro & Nuclear Power (KHNP) to oversee the construction of infrastructure needed to refurbish Unit 1 of Romania's Cernavoda Nuclear Power Plant.
This is the first time HanmiGlobal has joined an overseas nuclear plant project.
KHNP formed a consortium with Canada's Candu Energy and Italy's Ansaldo Nuclear, signing a contract last December with Romanian state-owned energy company SNN to refurbish Unit 1, which began commercial operation in 1996. The project aims to keep the reactor running for an additional 30 years.
The Korean government-owned nuclear operator is working with Doosan Enerbility, Hyundai E&C and Samsung C&T to build the necessary infrastructure.
Given the need for coordination among multiple global firms, HanmiGlobal has been tasked with establishing strategies for each project phase, managing costs and risks, ensuring compliance with local regulations and providing technical advice.
“As the Cernavoda project marks Korea’s first step into the market for refurbishing overseas nuclear power plants, we expect this to diversify the way Korean nuclear plant technologies are exported,” HanmiGlobal Vice President Roh Hee-sang said. “Through this project, HanmiGlobal will broaden its presence by joining nuclear-related projects in the Middle East and Asia as well as Europe.”
In 2022, HanmiGlobal acquired U.K.-based construction project management company Walker Sime, which has extensive experience in nuclear plant projects. Last year, the Korean firm established a dedicated nuclear project team to facilitate entry into relevant markets.
In June, HanmiGlobal signed a memorandum of understanding with KEPCO E&C to cooperate on nuclear plant design and to pursue new business opportunities.