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

5 Pages Posted: 14 Feb 2018

See all articles by Kwon Hyung Lee

Kwon Hyung Lee

Korea Institute for International Economic Policy

Sung Hyun Son

Korea Institute for International Economic Policy

Yun Hee Jang

Korea Institute for International Economic Policy

Ryou Kwang Ho

Korea Institute for International Economic Policy

Date Written: February 8, 2018

Abstract

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.

Keywords: Middle East, Electricity sector, Electricity policy, Renewable Energy

Suggested Citation

Lee, Kwon Hyung and Son, Sung Hyun and Jang, Yun Hee and Kwang Ho, Ryou, Electricity Industrial Policies in the Middle East and Their Implications for Korean Companies (February 8, 2018). KIEP Research Paper, World Economy Brief 18-04, Available at SSRN: https://ssrn.com/abstract=3123495 or http://dx.doi.org/10.2139/ssrn.3123495

Kwon Hyung Lee (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Sung Hyun Son

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Yun Hee Jang

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Ryou Kwang Ho

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

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