South Korea-US Leaders Agree to Jointly Enter Overseas Nuclear Power Market... "Expecting Future Corporate Cooperation Discussions"

[Image source=Yonhap News]

[Asia Economy Reporter Joo Sang-don] The leaders of South Korea and the United States have pledged to jointly enter the overseas nuclear power plant market.

On the 21st (local time), the South Korea-U.S. leaders announced in a joint statement that they "agreed to strengthen cooperation in the overseas nuclear power plant market, including joint participation in nuclear power projects, and to maintain the highest standards of nuclear safety, security, and non-proliferation."

According to the factsheet released along with the joint statement, the two countries promised to co-participate in the overseas nuclear power plant market by jointly establishing a nuclear power supply chain. As part of this cooperation, they detailed plans to strengthen collaboration in the nuclear field, including adopting the International Atomic Energy Agency (IAEA) Additional Protocol accession as a joint non-proliferation policy of both countries in nuclear supply.

An official from the Ministry of Trade, Industry and Energy said, "Currently, major nuclear power companies from both countries have great interest in new overseas nuclear power projects," adding, "We expect that concrete cooperation discussions between companies will continue following the agreement between the two leaders."

In particular, if the optimal overseas nuclear power supply chain is established between U.S. companies, which are traditional nuclear power leaders, and our companies that have successfully commercialized Unit 1 of the Barakah Nuclear Power Plant in the United Arab Emirates (UAE), it will greatly contribute not only to enhancing competitiveness in contract bidding but also to strengthening the nuclear power ecosystems of both countries.

Meanwhile, the two countries agreed to continue intergovernmental consultations to implement the summit agreements and to carry out detailed discussions for cooperation in nuclear power exports.

This content was produced with the assistance of AI translation services.