SKF targets renewable energy firms in Korea

SKF, a Sweden-based global engineering solution company, said it will expand its bearing business into Korea’s renewable energy industry to help local wind turbine makers improve the efficiency and reliability of their products.

SKF’s advance into the wind turbine sector, among other renewable energy sectors, comes as it sees a growing demand for wind power in the next few years, it announced at an event in Seoul yesterday.

Although the renewable energy market has not yet taken off in Korea, SKF is confident the market will grow in the next few years as numerous heavy industry conglomerates are already jumping into the sector, a company official said.

Its major clients include Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Doosan Heavy Industries & Construction, the company said. They have unveiled plans to foster their wind power businesses as new growth engines, it added.

“Because Korea has leading companies in key business areas like shipbuilding, automobiles and machinery, we think they need cutting-edge technical solutions,” said CEO Tom Johnstone. “Our five technologies, including bearings, can be effectively applied to the major industries of Korea.”

At yesterday’s event, the company unveiled its most sophisticated industrial solutions in the three main industry segments of wind energy, machine tools and automobiles. These are based on the company’s latest developments in the five technology platforms of bearings, seals, lubrication systems, mechatronics and services, it said.

“SKF’s customers can effectively save energy and increase uptime,” the company said.

By Song Su-hyun [ssh@joongang.co.kr]