- To expand operation from nuclear power plant PLC to include MMIS in general, to generate synergistic effect

POSCO ICT (CEO Hur Nam-suk) has established a new company, and is taking steps to take over Samchang Co., a local firm specializing in nuclear power plant business, in a bid to step up its nuclear power plant business.

POSCO ICT held a board of directors’ meeting on August 8, and launched a new undertaking for nuclear power plant business, which convened a board of director meeting and general meeting of founders. The acquisition of Samchang Co., an issue that has drawn attention, will thus be conducted through the signing of a business transfer contract, in which POSCO ICT establishes a new entity that will only take over nuclear power plant operation from Samchang.

The new undertaking has been named PONUTech Co.,Ltd, and has been established with 10 billion won in paid-in capital. The new company will cover production of Man Machine Interface Systems (MMIS) for nuclear power plants, as well as repair and maintenance of nuclear power and thermal power systems.

Samchang Co. is a company that possesses core technologies in mechanical instrumentation and control that verify the stability of nuclear power plant facilities. POSCO ICT has been drawing attention with its bid to take over Samchang. In fact, Samchang ranks No 1 in market share, and takes charge of maintaining and repairing mechanical instrumentation and control of 15 of the 21 nuclear reactors in Korea. The company has the most expansive experience in the construction of nuclear reactor instrumentation and control facilities, and their test operation.

POSCO ICT, which holds technologies in mechanical instrumentation and control and automation of plants, developed a Programmable Logic Controller (PLC) for commercial nuclear reactors, and is taking steps to supply related products for reactor facilities at New Uljin Nuclear Power Plants 1 and 2.

POSCO ICT, which is set tot take over nuclear power plant operation from Samchang Co. through the new company, plans to expand its business portfolio from its conventional PLC operation to include Man Machine Interface System (MMIS), and thus create synergistic effect between its related operations. MMIS constitutes a nuclear power plant’s brain, and consists of protection system, control system, and information system. This facility accounts for five to 10 percent of the overall costs for constructing a nuclear power plant.

Experts say that POSCO ICT is participating in the consortium tasked with the development of a SMART nuclear reactor, a project that is aimed at developing a small to mid-size Korean standard nuclear reactor, and conducting research on mechanical instrumentation and control of such reactors, and that the Company will be able to create synergistic effects in these fields.