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[Alpha Biz=(Chicago) Reporter Paul Lee] The Ministry of Trade, Industry and Energy said on the 26th that South Korea and Qatar have signed a total of three cases with companies and related agencies from the two countries, including one contract and two memorandum of understandings (usually one trade and one finance), in the wake of the summit.
Industry Minister Bang Moon-kyu and Qatar Trade and Industry Minister Ramada bin Altani signed a trade investment promotion framework "MOU" to diversify cooperation between the two countries in areas such as supply chain, digital ･ green, bio-economy and small and medium-sized enterprises.
HD Hyundai Heavy Industries has signed a contract with Qatar Energy to win a new LNG carrier worth 5 trillion won (3.9 billion dollars). The two companies adopted a 'basic agreement' for the construction of LNG carriers last month.
This summit has led to the formal signing of the main contract. Qatar, the world's largest LNG exporter, is reportedly planning to increase LNG production from the current 77 million tons annually to 126 million tons by 2027.
As demand for high value-added ships such as LNG carriers is expected to increase, the Ministry of Industry and Energy plans to actively support the Korean shipbuilding industry's order.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
