History SB SUNBO Signs MOU with Karadeniz Holding and Busan City for Joint Dev…
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On November 25, SB SUNBO Co., Ltd. signed a Memorandum of Understanding (MOU) with Karadeniz Holding and Busan City at BEXCO Convention Hall to promote the joint development of the shipbuilding and offshore plant industry.
Karadeniz Holding, a global leader with unparalleled expertise in the powership sector, will collaborate with SB SUNBO and other Busan-based shipbuilding equipment companies to explore opportunities in the floating power plant market, marking an important starting point for regional businesses.
The core objective of this three-party MOU is to open new markets for Busan’s shipbuilding equipment sector, a key local industry. Through its subsidiary Karpowership, Karadeniz Holding supplies powerships to multiple countries in Africa and Asia, offering practical solutions to global energy shortages. Busan City expects that this collaboration will provide local companies with access to a global network of leading enterprises and enable them to expand their business reach.
Until now, local shipbuilding equipment companies had no access to the powership sector. However, many of these companies are already active in the offshore plant market, allowing them to enter the floating power plant supply chain without large-scale R&D investment, which represents a significant advantage.
Under the MOU, Busan City, SB SUNBO, and Karadeniz Holding will jointly pursue:
• Administrative support and cooperative networks to expand regional company participation
• Joint projects leveraging the technical capabilities and equipment supply capacity of Busan’s shipbuilding and equipment industry
• Sharing of Karpowership’s experience in operating powerships and LNG floating storage and regasification units, as well as global project expertise
Mayor Hyung-Joon Park of Busan commented, “Busan is the largest hub for the shipbuilding equipment industry in Korea, leading digital and eco-friendly transformation and moving toward high value-added production as a global marine hub. Through this MOU, we aim to strengthen cooperation with the international community and combine the strengths of the three parties to further promote innovation and collaboration in the shipbuilding and offshore plant industry.”