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World Economy Brief

Electricity Industrial Policies in the Middle East and their Implications for Korean Companies

LEE Kwon Hyung, SON Sung Hyun, JANG Yun Hee and RYOU Kwang Ho | 2018.02.08

The aim of the research is to suggest policy implications for Korean companies that want to expand their business in the Middle Eastern electricity sector, examining industrial policies and various business in the sector. Government policies that help Korean companies expand their market in the Middle East can be suggested as follows. First, financial support policies should be considered, to help these companies deal with project-developing costs incurred, for instance, for feasibility studies. More financial incentives could also be provided as more Korean contents are used in the projects. Second, more support should be considered for small- and medium-sized enterprises that cannot advance into the Middle Eastern market by themselves due to a lack of financial resources and track record in the region. Third, new business projects that incorporate ICT in the electricity industry, such as smart grids, AMI (Advanced Metering Infrastructure), ESS (Energy Storage System) should be systematically developed in the region. Fourth, a control tower should be set up in order to coordinate different interests among companies, banks and supporting institutions. It could also work as a platform to build a strategy to win government contracts. 

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