[시사매거진] GLO&KO just announced that they are diving into Manpower business in Oil & Gas Infrastructure Industry. Main target order is projects from developing countries including Central Asia.

In addition to China and Southeast countries, GLO&KO has been building a strong local network with Central Asian republics. One of good examples could be the common ongoing projects with Kazakhstan Foreign Ministry. And now it is planning to jump into Central Asian Manpower & Service Market in March 2021 by signing a partnership with Polaris Co.,Ltd. who has stable outcome in Manpower Service in Oil & Gas.

Manpower Service is the business that supplies supervisors and engineers that has proficiency in the project starting from base engineer stage to Pre-Commissioning Scope and it is taking a ‘Hourly Based Rate to Man’ method which can lower the risk in the bidding stage and having relatively higher ROI than ‘Unit-Price Turn Key’ method.

Starting from KITCO Co., Ltd.(Korea Testing & Inspection Co) in last 1988, a number of domestic Shipbuilding companies and Offshore companies in Ulsan and Geoje In Korea dived in as offshore plant project grew dramatically in 2000s. However, due to the low oil price since 2016 offshore plant project has been decreased and faced a serious trouble in the market which led domestic manpower companies to shut down their business.

To win orders for Manpower service for offshore plant projects, oil and gas projects, the role of professional companies that are familiar with the local market with oil fields and have experience in signing overseas contracts are needed. So GLO&KO decided to hire board members from Multi-National Companies and Manpower Business Companies to be more competitive in the market.

임지훈 기자 cjs1210@hanmail.net

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