Power Plant Industry, Solution for Power Shortage
Top picks: Hyundai E&C,
Doosan Heavy, BHI, KIC,
KC Cottrell
Global Power Plant Industry
to be Worth KRW4,388tr in 2030
Ongoing Urbanization to Drive up
Global Electricity Demand
Power Plant Type Differs
by Region
Coal-fired Thermal Power’s
Highest Portion among Power
Sources to Keep Rising
Gas Combined Cycle Power,
the Clean Energy’s Uptrend
to Continue
Second Nuclear Renaissance
Begins
Power Plant Industry Value Chain
Fig 1: Valuation of top picks in the power plant industry
Fig 2: Valuation of domestic and overseas power plant-related companies
Fig 3: Global power generation volume by type
Fig 4: Orders for power plant construction by type and region in 2007
Fig 5: Major countries’ strategies for nuclear power
Fig 6: Nuclear power generation trends and outlook by region
Fig 7: Global urban population and electricity consumption trends
Fig 8: Global population and urbanization rate trends
Fig 9: Power generation volume by region vs. global generation volume growth
Fig 10: Coal reserve portion by region
Fig 11: Natural gas reserve portion by region
Fig 12: Popular power plant type by region
Fig 13: Characteristics of coal-fired thermal power
Fig 14: Capex for coal-fired thermal power in non-OECD nations (China, India, etc.)
Fig 15: Coal-fired thermal power amount and portion
Fig 16: Characteristics of combined cycle power generation
Fig 17: Capex for coal-fired thermal power generation in non-OECD members
Fig 18: Combined cycle power generation amount and portion
Fig 19: Characteristics of nuclear power generation
Fig 20: Capex for nuclear power generation in non-OECD members
Fig 21: Nuclear power generation amount and portion
Fig 22: Types of contracts for building a power plant
Fig 23: Different methods of order placement by fuel type
Fig 24: Domestic power generation by fuel type
Fig 25: Domestic power generation outlook by type
Fig 26: Projected costs of constructing power plants in Korea
Fig 27: Operator of coal-fired thermal power plant in Korea, and equipment
supplier
Fig 28: Scheduled installation of coal-fired thermal power plants in Korea
Fig 29: Coal-fired thermal power generation at a sight (boiler, turbine, generator,
and BOP)
Fig 30: Value chain of coal-fired thermal power plant
Fig 31: Domestic combined cycle power plants in operation and equipment supply
Fig 32: Domestic combined cycle power plants to be built
Fig 33: Combined cycle power plant’s diagram (gas turbine, HRSG, BOP)
Fig 34: Value chain of combined cycle power generation
Fig 35: Korea’s nuclear power plants in operation and equipment supply
Fig 36: Domestic nuclear power plants to be built
Fig 37: Value chain of nuclear power generation
Fig 38: Diagram of nuclear power plant

Hyundai E&C (000720)
BUY (maintain)
Doosan Heavy Ind. & Const. (034020)
BUY (maintain)
BHI (083650)
BUY (initiate)
KIC (007460)
BUY (initiate)
Korea Cottrell (009440)
BUY (maintain)
TSM Tech (066350)
Not Rated
S&TC (100840)
Not Rated
Fig 39: Hyundai E&C’s power plant construction projects since 2000
Fig 40: Hyundai E&C’s nuclear power plant construction results
Fig 41: Order backlog and new order trends by division
Fig 42: Sales trends by division
Fig 43: New orders and OR
Fig 44: OP and NP
Fig 45: BHI’s orders for nuclear power plant equipment
Fig 46: BHI’s orders placed by major power plant makers overseas
Fig 47: POSCO E&C’s order status for power plants
Fig 48: Sales breakdown
Fig 49: Current status of KIC’s businesses in detail
Fig 50: Air pollution control systems projected at about 81% of 2009 OR
Fig 51: Breakdown of new order wins