HomeMMBIZ NewsShinhwa Eyes Myanmar Opportunities

Shinhwa Eyes Myanmar Opportunities

South Korea-based Shinhwa International Co Ltd is eyeing potential businesses in power plant construction and duty-free stores in Myanmar.

Shong Jun-Seok, cheif executive of Shinhwa, had an official meeting with deputy minister for electric power and discussed possibilities of establishing a 300 megawatts (MW) coal-fired power plant in Mawlamyine region, according to local media reports.

The company is also reportedly discussing possibilities of establishing duty-free stores in Yangon International Airport and Mandalay International Airport.

Shinhwa, since 2011 has been looking for opportunities in Myanmar. In 2013it led a consortium comprising Shinhwa, Korea Southern Power and Daewoo E&C to visit the country’s capital Nay Pyi Taw to have meetings with various ministries.

Shinhwa is known overseas as a specialised power plant developer and in South Korea as a distributor of cosmetics.

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