YOUNG CHANG more technology, better cabled since 1986


YOUNG CHANG more technology, better cabled since 1986

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Korea Western Power, mid-term overseas development ‘custom wing’

16 Apr 2024

Signed an overseas sales channel performance sharing project support agreement with four cooperative companies  
[Energy Economy Reporter Yang Se-hoon]

Korea Western Power will provide approximately 630 million won in support to partner small and medium-sized companies for their overseas sales channels and share the results. It attracts attention in that it goes beyond customary support and provides practical support and sharing of results.
On the 7th, Korea Western Power (CEO Jo In-guk) signed an 'Overseas Sales Performance Sharing Project Support Agreement' with four partner small and medium-sized companies (Neopis, Hansung Dust King, Youngchang Silicone, and Geonet) at the headquarters in Yeoksam-dong, and supported the overseas sales of partner companies. To expand exports, we decided to take the lead in providing customized support linked to the performance sharing system.

In the meantime, Korea Western Power has implemented various projects such as supporting exhibitions at overseas exhibitions and jointly dispatching market development teams to promote overseas exports of companies belonging to the Overseas Sales Support Council (WP-Small Giants 30). Through business feedback and meetings with participating companies, we were able to find more direct ways to increase sales of small and medium-sized businesses we partner with, and this time, we planned a new project called ‘Overseas Customized Sales Support.’
To this end, Korea Western Power held a public offering for the ‘Performance Sharing System Customized Project’ last April and selected four companies by evaluating the appropriateness of the submitted projects.
The total project cost of the four selected companies is 845 million won, and Korea Western Power will support 75% of the total project cost up to 200 million won per company. Accordingly, Korea Western Power plans to pay a total of 623 million won differentially depending on each company's tasks.

The main support contents include △demonstration of overseas prototypes △product development tailored to the requests of overseas buyers △obtaining CE (Communaute Europeenne Marking) certification △overseas marketing.
In particular, 2.5% of overseas sales generated as a result of this performance sharing project support will be shared for three years, and the performance sharing funds raised will be reinvested in small and medium-sized businesses or donated to social organizations.
By operating this unique social responsibility-oriented performance sharing system, Korea Western Power has so far supported a total of KRW 18.4 billion in performance sharing product sales and KRW 220 million in performance sharing generated from this to small and medium-sized businesses or donated it to social organizations.
In addition, Korea Western Power is holding a local export consultation meeting in the Middle East (April), vendor registration support (June), and a buyer invitation consultation (July) to help partner companies dominate the market in Iran, where economic sanctions have recently been lifted. Through joint visits with partner companies, we plan to jointly pioneer new overseas blue oceans by opening a local office in Iran, discussing joint overseas projects, signing business agreements with local power companies, and holding export consultations.

Moon Young-soo, head of Western Power's procurement cooperation department, said, "Through this customized overseas sales channel support, we hope that our partner companies will succeed in their targeted overseas expansion and that they will be able to happily share the results with society."
Meanwhile, Korea Western Power has selected the multilateral performance sharing system, overseas sales support performance sharing system, and empirical test performance sharing system as the three key performance sharing projects in 2015. Following the overseas sales support performance sharing system, in September, 2nd and 3rd tier partner companies In order to spread shared growth, we are about to become the first public institution to enter into a multilateral performance sharing system business support agreement.

Head office  205-16, Gasan Digital 1-ro, 
Geumcheon-gu, Seoul 

Tel.  +82-02-808-2777 / E-mail. 
 Fax.  +82-02-803-8380

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Head office    205-16, Gasan Digital 1-ro, Geumcheon-gu, Seoul 

Tel     82-02-808-2777        E-mail        Fax     82-02-803-8380

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