The First Meeting of the Nuclear Power Export Strategy Promotion Team... Discussion on Follow-up Measures for the Eldaba Project

Nuclear Power Export Strategy Promotion Team Holds 1st Meeting

Korea Hydro & Nuclear Power Wins Contract for Secondary Side Construction of El Dabaa Nuclear Power Plant in Egypt
(Seoul=Yonhap News) Reporter Kwon Heewon = The government has secured a large-scale overseas nuclear power plant construction project for the first time in 13 years, drawing attention to whether the Yoon Seok-yeol administration will accelerate achieving its goal of exporting 10 nuclear reactors by 2030, which was promised shortly after taking office.
According to the Ministry of Trade, Industry and Energy, Korea Hydro & Nuclear Power signed a contract worth 3 trillion won last month on the 25th in Cairo, Egypt, with ASE JSC, a subsidiary of the Russian state-owned nuclear power company Rosatom responsible for nuclear power plant construction, for the El Dabaa nuclear power plant construction project in Egypt. 2022.8.26 [Provided by KHNP. Redistribution and DB prohibited]
photo@yna.co.kr

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[Asia Economy Sejong=Reporter Lee Jun-hyung] The government held the first meeting of the 'Nuclear Power Export Strategy Promotion Team' to discuss follow-up measures for the recently secured Egypt El-Dabaa Nuclear Power Plant project.

The Ministry of Trade, Industry and Energy announced on the 2nd that it held the first meeting of the Nuclear Power Export Strategy Promotion Team at the Korea Chamber of Commerce and Industry in Seoul. The Promotion Team supports the intergovernmental nuclear power export control tower, the 'Nuclear Power Export Strategy Promotion Committee,' which was launched on the 18th of last month. The head of the Promotion Team is Cheon Young-gil, Director of the Energy Industry Office at the Ministry of Trade, Industry and Energy. Related ministries including the Ministry of Foreign Affairs, Ministry of Economy and Finance, and Ministry of Land, Infrastructure and Transport participate, along with nuclear-related organizations such as Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power (KHNP).

At the first meeting, the Promotion Team discussed follow-up measures for the El-Dabaa nuclear power project. Previously, KHNP secured the second phase of the El-Dabaa nuclear power plant construction project, worth approximately 3 trillion won, last month. Accordingly, KHNP plans to hold a business briefing session in Gyeongju, Gyeongbuk, on the 6th and 7th to help domestic nuclear power equipment companies prepare for bidding on the El-Dabaa project. KHNP also plans to hold an event in Changwon, Gyeongnam, on the 6th to share information related to the El-Dabaa project.

Cheon Young-gil, Director General of the Energy Industry Bureau at the Ministry of Trade, Industry and Energy, attending the 31st Korea-Australia Energy and Resources Cooperation Committee held on the 22nd of last month.
[Photo by Ministry of Trade, Industry and Energy]

Customized export strategies by nuclear power order target countries were also discussed. The Promotion Team first reviewed the implementation status of nuclear power sector memorandums of understanding (MOUs) signed with the Czech Republic and Poland, where project operator selection is imminent. Discussions were also held on tailored cooperation projects considering each country's conditions, environment, and economic cooperation demands with Korea.

The Promotion Team will hold a second meeting within this month. In addition to regular meetings, the team plans to hold frequent meetings with related organizations to discover export strategies and support policies.

Director Cheon said, "Changes in government nuclear power policy and a strong export will created the first achievement of securing a large-scale nuclear power project in 13 years," adding, "Going forward, to win in fierce bidding competitions, we must fully mobilize public and private capabilities to establish competitive and differentiated customized export strategies by country." He also added, "KHNP's special attention and support are necessary to promote the participation of domestic nuclear power equipment companies, which are struggling to secure orders, in the El-Dabaa project."

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