Leading Korean Steel Pipe Manufacturer Opens Office in British Columbia
Husteel, a subsidiary of Korea’s Shinan Group, has opened an office in Vancouver, British Columbia to take advantage of opportunities arising from the province’s emerging natural gas and liquefied natural gas (LNG) industry.
< Back to Success Stories
The Shinan Group was founded in 1960 by Soon-Suk Park with a real estate development business, expanding in the 1990s to include leisure, banking and financing and a steel pipe manufacturing businesses, now known as Husteel. Husteel is a manufacturer of structural steel tube, steel piles for construction, and steel pipes for the oil and gas industry. Husteel has been representing the Republic of Korea as a leading steel pipe manufacturer for the last 47 years, since 1967.
After participating in the Premier’s Jobs and Trade Mission in November 2013, Shinan Group representatives met with British Columbia’s Trade and Investment Representative in Korea in January 2014, expressing interest in establishing a presence for Husteel in British Columbia. Throughout the spring the Ministry of International Trade’s Trade and Investment teams in Korea and Vancouver worked with the company to assist with local staffing requirements and facilitate meetings with LNG companies. In May 2014, president of the newly-formed Husteel Canada, Kelly Hwang, participated in the LNG in BC conference in Vancouver.
International companies like Husteel are recognizing the scope of business opportunities created by British Columbia’s emerging LNG industry. The need for energy is increasing globally, particularly in emerging Asian economies. Natural gas − the world's cleanest -burning fossil fuel − is able to accommodate the demand. British Columbia is well positioned to meet this need with our competitive advantages to become a leading contender for LNG growth and export, including an abundant supply of natural gas which can support economic activity in the province for over 150 years. It is anticipated that LNG will create up to $1 trillion in economic activity in B.C. over the next 30 years.
The emerging natural gas industry in British Columbia represents a once-in-a-generation opportunity both for international investors and for B.C.-based suppliers and service providers, and the government of British Columbia is working to ensure that B.C.’s entire business community can participate fully in the opportunity LNG offers. The LNG-Buy BC program was created to connect LNG project proponents with B.C. companies large and small in every corner of British Columbia. The program includes an LNG-Buy BC Online Tool where LNG proponents and other companies can post supply chain opportunities, and B.C. companies can promote their business capabilities and find suppliers and partners. The online tool launches in the fall of 2014. Learn more and preregister here.