Busan–Ulsan–Gyeongnam Energy and Machinery/Plant SMEs Make Headway on 19.5 Billion Won in Export Contracts in Southeast Asia

[Financial News] Small and medium-sized enterprises in the energy and machinery/plant sectors in Busan, Ulsan and Gyeongnam returned after making headway on export contracts worth a total of $14.51 million through business consultations with local companies in Vietnam and Malaysia.
The Busan Regional Office of SMEs and Startups and Korea Southern Power said on the 22nd that they had dispatched the 2026 Global South Energy and Machinery/Plant Market Development Delegation to Vietnam and Malaysia from the 12th to the 17th and held export consultations.
Ten technically capable SMEs based in Busan, Ulsan and Gyeongnam participated in the delegation, offering products including transformers, heat exchangers, control valves and insulation materials designed to prevent the spread of fire. The Busan Regional Office of SMEs and Startups and Korea Southern Power invited representatives of 74 companies, including major local brokers of power-generation and plant equipment in Vietnam and Malaysia, and facilitated one-on-one business consultations with companies from the Busan–Ulsan–Gyeongnam region.
The export consultations, held in Ho Chi Minh City, Vietnam, and Kuala Lumpur, Malaysia, generated 194 meetings and export consultations worth a total of $45.46 million (about 61.3 billion won). Among these, export contracts worth $14.51 million (about 19.5 billion won) are being pursued.
In particular, 12 memorandums of understanding were signed between companies in the delegation and local companies in Southeast Asia, laying the groundwork for ongoing transactions and business cooperation.
Seminars were also held featuring a company with a local presence in Vietnam’s power-generation equipment sector and the Malaysian Oil, Gas and Energy Association, to provide Korean companies with practical information needed to enter local markets.
The participating companies shared information needed for SMEs to enter the market, including trends in local energy and engineering, procurement and construction (EPC) markets; procurement requirements; certification and standards requirements; and building local networks. They also took time to explore potential cooperation with local companies and institutions.
Busan Regional Office of SMEs and Startups Chief Lee Cheong-il said, “As uncertainty in the global trade environment has grown recently, it is becoming increasingly important for SMEs to identify export opportunities in new markets and find ways to break through.” He added, “We will continue to work with relevant institutions to actively support local SMEs’ entry into overseas markets and to ensure that export consultations lead to tangible contract results.”
[email protected] Byun Ok-hwan Reporter