Posco Daewoo has signed a memorandum of understanding with state-run gas supplier Korea Gas Corp. (KOGAS), to form a partnership in natural resource development and related technologies. The two firms will share information about natural resource development and related technologies. The agreement will help the two bolster technological capabilities and explore business opportunities.
The memorandum of understanding was signed at Grand InterContinental Seoul Parnas in Seoul, on Monday, with Posco Daewoo CEO Kim Young-sang, KOGAS CEO Lee Seung-hun and other senior executives.
“The two companies have maintained a close partnership since POSCO Daewoo began commercial gas production in Myanmar in 2013,” said Kim.
“The partnership between POSCO DAEWOO with cutting-edge technologies in upstream, midstream and downstream sectors and KOGAS will be mutually beneficial.”
“The deal will give the two companies opportunities to expand their presence in the energy business and it will also boost Korea’s development of natural resources.”
Posco Daewoo is Korea’s leading private company in the field of natural resource development and has built up knowledge and expertise through various natural resource development, production and operation projects.
Source & Image credit: Posco Daewoo
