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Samsung Engineering

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Samsung Engineering
Company typePublic
KRX: 028050
IndustryProject Management, Engineering, Procurement, Construction, and Commissioning
FoundedJanuary 20, 1970; 54 years ago (1970-01-20)
HeadquartersSeoul, South Korea
Key people
Sungan Choi, President & CEO
ProductsHydrocarbon, industrial, environmental, infrastructure related plants and facilities
Number of employees
5.566 (as of 2018)
WebsiteSamsung Engineering Website

Samsung Engineering Co., Ltd. (Template:Lang-ko) was founded as the first engineering firm in Korea in 1970. As an Engineering, Procurement and Construction (EPC) Company, it provides a full range of engineering services including feasibility studies, design, procurement, construction, and commissioning. The company has completed projects in over 38 countries worldwide, with an established presence in Saudi Arabia, United Arab Emirates, Algeria, India, Thailand, Trinidad & Tobago and Mexico.

Business Portfolio

Hydrocarbon

Gas Processing & Treating(GOSP, GSP), LNG (Liquefaction, Regasification), Pipelines, Offshore, Distillation (CDU, VDU), Hydro Treating, Cracking & Coking(Hydrocracker, Delayed Coker), Naphtha/Ethane/Propane Cracking, Ethylene, Propylene, Aromatics, Fertilizers, Polymers, U&O

Industrial & Environmental

IT, Manufacturing, Pharmaceuticals, Sewage Treatment, Wastewater Treatment, Water Treatment, Water Reuse, Desalination, Ultra-pure Water, Air Pollution Prevention, Waste Treatment

History

Korea Engineering was founded in 1970 by the Korean government as the country's first engineering company.[1] It was acquired by Samsung Group in 1978.[1] During the 1970s and 80s, the Korean government prioritized the development of heavy and chemical industries and Korea Engineering was in charge of the design of projects such as the Korea National Oil Corp. refinery, the Namhae fertilizer plant and the Honam petrochemical plant.

Korea Engineering was renamed to Samsung Engineering in 1991.[1] In 1993, the company was awarded its first overseas project, a natural gas separation plant in Thailand.[1] Throughout the 1990s and 2000s, Samsung Engineering continued its international expansion and international projects now account for the majority of the company's business.

In the 2010s, Samsung Engineering expanded into new business areas including power plants and steel mills and at the same time took on complex billion-dollar projects in Saudi Arabia and the UAE. The company was ill-prepared for the execution of this projects, leading to a 1.3 billion US dollar loss in 2015.[2]

Key Executives

Sungan Choi is the President and Chief Executive Officer.

See also

References

  1. ^ a b c d "History". Samsung Engineering. Retrieved Nov 26, 2019.{{cite web}}: CS1 maint: url-status (link)
  2. ^ Lee, Joyce (Oct 22, 2015). "Samsung Engineering in $1 bln rights issue after huge loss; shares dive". Reuters. Retrieved Nov 26, 2019.
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