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Classified in: Oil industry, Science and technology, Business
Subjects: CON, JVN

Transition Technologies S.A.: South Korea and Poland - (un)expected business partners


WARSAW, Feb. 23, 2024 /PRNewswire/ -- The economic cooperation between South Korea and Poland is growing stronger and stronger. This is partly due to economic factors, but also shared experiences. What exactly links this two countries, so far apart culturally and geographically? The mystery is explained by Prof. Konrad ?wirski, CEO of Transition Technologies, an IT firm from Poland generating revenue of over USD 200 million a year, operating on several continents and cooperating with companies such as Doosan, Daewoo and Hyundai.

Some countries, despite their distant geography, entirely different languages, and vast cultural differences, paradoxically have much in common and seem destined to cooperate with each other economically. This is definitely the case with South Korea and Poland. Why?

As Prof. Konrad ?wirski, CEO of Transition Technologies, explains: "First and foremost, the two countries are both located between major powers, where their autonomy has come under attack many times, along with violent uprisings, wars, struggles for independence, and the need to grow economically in the shadow of their large neighbours."

The countries' common interests are particularly visible today. For Poland, South Korea is a preferred Asian investor and a partner delivering sought-after technologies (including in such areas as nuclear energy and defence). In turn, for South Korea, Poland is a "window" into the European Union and an optimal location for European investments in its own factories. Today the cooperation between the two countries is growing very rapidly, already surpassing USD 10 billion according to Statistics Poland (rising by over 20-fold in the last 20 years), and in some sectors South Korea holds a dominant position as a partner for Poland.

"Huge arms contracts, the foundation of Polish national security, are based on South Korean equipment," said Prof. ?wirski. "Additionally, the construction of several nuclear reactors employing South Korean solutions is under consideration. The region around the city of Wroc?aw, in particular, is a preferred location for construction of Korean factories (manufacturing lithium-ion batteries, among other items). A symbol of this intense cooperation is the direct flight between Wroc?aw and Seoul, demonstrating the scale of the business contacts between our countries. Nearly all of the major South Korean corporations are present in Poland as investors, led by LG but also including Doosan, Daewoo, Hyundai and many others. They are backed by South Korean banks also having a presence on the Polish market." 

Not just trade, but mutual cooperation

Most of this business cooperation is South Korean imports to Poland?the balance of trade runs 9 to 1 in favour of South Korea. But the cooperation between Poland and South Korea is much broader and more complex, and also includes execution of joint projects.

Above all, Polish firms can provide natural back-office support for Korean corporations. Moreover, they can generate synergies beneficial for both sides. This is confirmed by the experiences of Transition Technologies. This Polish IT group is one of the main Polish companies offering development of IT systems for global corporations as well as advanced solutions for process optimization and automation.

The team of engineers at one of Transition Technologies' companies, Transition Technologies Advanced Solutions, specializing in systems for the power generation and transmission industry, carries out numerous projects with Hyundai E&C. They conducted their first joint project at the Ras Girtas Power Company in Qatar, a firm in the energy and desalination sector. Since then, the team of Hyundai E&C and Transition Technologies Advanced Solutions have completed some 50 joint projects in the Middle East, Asia, and recently also in Poland for a newly built installation for production of polymers. The cooperation with South Korean partners has continued on further strategic projects, for example nuclear energy, the best proof of which is the memorandum of understanding signed by this company from the Transition Technologies Group with Doosan Enerbility and Daewoo.

Another Transition Technologies company, Transition Technologies Control Solutions, active in industrial automation and robotics, is a partner and direct distributor for Doosan Robotics, a leading Korean manufacturer of collaborative robots. The sales of these devices, which are a mainstay of modern industry, are growing rapidly, facilitating the development of other product lines based on this partnership, such as a universal palletizing platform or welding robots.

A long list of similarities

The economic cooperation between South Korea and Poland is expected to rise even more dynamically.

"Although Poland and South Korea are far away from one another geographically and culturally, they have many fields in which they can fruitfully cooperate," said Prof. Konrad ?wirski. "My experiences cooperating with South Korean partners clearly demonstrate that there is more linking than separating the two countries. Outlook, similar political experiences, openness to new technologies, and simple human kindness, conscientiousness and attention to detail make South Korea and Poland ideal partners for each other in the business world."

Media contact:
Magda Ko?odziejczyk, M+G
[email protected] 
Tel.: +48 501 168 807

Transition Technologies, founded in 1991, delivers advanced solutions for the electricity and gas market, industry 4.0, and bioinformatics, and also provides comprehensive outsourcing of IT services and software development for many global corporations. 

The group is staffed by the finest specialists who work every day on innovative use of state-of-the-art solutions combining the internet of things, virtual reality, augmented reality, and cybersecurity. The group delivers most of its services through the cloud computing model.

The group has 26 offices on three continents, where is employs over 2,300 people.

www.tt.com.pl 

 


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