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Busan Metropolitan City, SB Sunbo, and Karadeniz Holding Sign Agreement to Advance the Shipbuilding and Offshore Plant Industry

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will sign a “Cooperation Agreement for the Joint Development of the Shipbuilding and Offshore Plant Industry” today (November 25) at 5:30 p.m. with SB Sunbo Co., Ltd. (Chairman Choi Geum-sik) and Karadeniz Holding (Chairman Osman Murat Karadeniz) at the BEXCO Convention Hall in Haeundae District.

The signing ceremony will be attended by Mayor Park Heong-joon; Choi Geum-sik, Chairman of SB Sunbo Co., Ltd.; Osman Murat Karadeniz, Chairman of Karadeniz Holding; and other related officials.

This agreement was established to promote mutual collaboration and exchange in shipbuilding, offshore plants, and ship equipment industries.

Key elements of the agreement include:
– Administrative support and network-building to expand participation by local companies;
– Technological capability sharing and equipment supply capacity;
– Cooperation in the shipbuilding and ship equipment sectors of the Busan region for joint project participation;
– Provision of experience related to Powership* and LNG Floating Storage and Regasification Unit (FSRU**), as well as participation in global projects.

• ●Powership: A large-scale mobile power supply facility with power generation equipment installed on a ship or barge.
  ** Floating Storage and Regasification Unit (FSRU): A vessel that stores and regasifies natural gas without the need for an onshore terminal.

Under the agreement:
– Busan Metropolitan City will provide administrative support and build networks aimed at expanding participation by local companies;
– SB Sunbo Co., Ltd. will share its technological capabilities and equipment supply capacity;
– Karadeniz Holding will share its global project and power ship business experience.

Through this agreement, the three organizations plan to identify new joint projects in the shipbuilding and offshore plant industry—Busan’s future growth engine—while supporting local companies’ global expansion, strengthening supply chain competitiveness, and securing new export opportunities for the ship equipment sector.

SB Sunbo Co., Ltd. is a leading Busan-based company that successfully introduced the ship module unit system to the domestic shipbuilding industry. Following the launch of its integrated corporation in July, the company has been advancing as a global eco-friendly energy firm through the development of new green energy technologies, including gas-fueled Fuel Gas Supply Systems (FGSS), water electrolysis systems, and carbon capture technologies (OCCS).

Karadeniz Holding, based in Türkiye, is the world’s leading company in floating power ship (Powership) operations. Through its subsidiary Karpowership, it supplies Powerships to several countries in Africa and Asia, providing innovative solutions to meet global energy demands.

Mayor Park Heong-joon stated, “Our city is the nation’s largest cluster of ship equipment industries, leading digital transformation, eco-friendly transition, and high value-added growth as we advance toward becoming a global maritime hub city.” He added, “Through this agreement, we will strengthen cooperation with the international community as the Northeast Asia Maritime Capital and further promote innovation and collaboration in the shipbuilding and offshore plant industries by combining the strengths of each organization.”