HPI Selected for U.S. Commerce Department Trade Mission to Japan and South Korea

HPI was named as one of only 20 U.S. companies to participate in a business development trade mission to Japan and South Korea with U.S. Secretary of Commerce, Penny Pritzker. The mission will promote U.S. exports to Japan and South Korea by helping U.S. companies increase their business in the healthcare and energy sectors, where the government and private sectors of both countries are spending significant capital on its development.

Japan and South Korea have long been dependent on imported energy resources to meet its energy needs. For U.S. energy firms, Japan has a compelling need to find new energy sources, optimize the mix of energy imports and increase efficiencies in response to the March 2011 natural disasters and nuclear emergency, which led to the shutdown of Japan’s 48 nuclear facilities.

Due to scare natural resources, South Korea depends on imported energy sources to meet approximately 90% of its energy needs. Although the country has virtually no indigenous energy resources, throughout the years, major South Korean construction and engineering companies have been successful at winning bids for overseas projects, including energy. With expectations of increases in overseas orders for local Korean engineering, procurement and construction (EPC) companies, opportunities exist for reputable and qualified rotating equipment solutions providers, like HPI, to offer products and services at competitive pricing.

As part of the delegation, HPI will be introduced to key decision-makers in both the government and the private sector in Japan and South Korea, and will receive high-level briefings on potential opportunities in the region.

The mission will take place October 19-23, with stops in Tokyo, Japan and Seoul, South Korea.