ARE VALUE CHAINS STILL BUILT AROUND EFFICIENCY?

Shannon O'Neill moderates a discussion with Hong Nam-gong about changes in the engineering, procurement, and construction (EPC) industry. Hong explains that the industry is shifting from a focus on efficiency to resilience and stability due to COVID-19, geopolitics, and inflation. Samsung E&A is building strategic alliances and setting up regional sourcing to adapt. AI plays a crucial role in prediction and automation, complementing human judgment. The company is also leveraging its EPC experience to develop technologies for carbon capture, electrolysis, and green energy. Partnerships are essential for Samsung E&A, exemplified by collaborations with companies like Honeywell and GE Genova to reduce carbon emissions. Regional manufacturing ecosystems are being created to enhance flexibility and efficiency. The company focuses on both oil and gas while expanding into energy transitions, with opportunities in ASEAN countries and the United States.