Korea-UK Joint Declaration on Nuclear Power Cooperation Announced... Positive Signal for KEPCO's Nuclear Project Bidding

Minister Lee Chang-yang Meets with UK Secretary of State for Energy Security and Net Zero
Joint Declaration Includes Expansion of Nuclear Power and Clean Energy Cooperation

The governments of South Korea and the United Kingdom have agreed to expand cooperation in the fields of nuclear power and clean energy through a joint declaration. This declaration comes at a time when Korea Electric Power Corporation (KEPCO) is actively pursuing orders for new nuclear power plants in the UK, a pioneer in nuclear energy, and is expected to have a positive impact on securing these orders.

On the morning of the 10th, Lee Chang-yang, Minister of Trade, Industry and Energy, met with Grant Shapps, UK Secretary of State for Energy Security and Net Zero (DESNZ), at the Lotte Hotel Seoul and announced the joint declaration containing these details.

The main points of the joint declaration are ▲ mutual recognition of the need for energy transition from fossil fuels to low-carbon power sources ▲ strengthening nuclear cooperation, including exploring the possibility of participating in the construction of new nuclear power plants in the UK ▲ expanding exchanges and cooperation in clean energy sectors such as offshore wind power and hydrogen between the two countries.

First, the two countries discussed various cooperation measures in nuclear power, including nuclear power plant design and construction, equipment manufacturing, nuclear power plant decommissioning, nuclear fuel, and small modular reactors (SMRs). Minister Lee explained, "South Korea has competitiveness in nuclear power plant design, construction, and equipment manufacturing, while the UK has strengths in nuclear power plant decommissioning and nuclear fuel sectors," adding, "Complementary cooperation between the two countries is possible."

The two countries agreed to accelerate discussions on KEPCO's participation in the construction of new nuclear power plants in the UK, taking advantage of the launch of the UK Government's Office for Nuclear Regulation (GBN) in March. Secretary Shapps plans to visit the Shin-Kori Nuclear Power Plant and the Korea Radioactive Waste Agency during his visit to South Korea.

Additionally, the two countries discussed cooperation measures to establish energy security and respond to climate change. Minister Lee stated, "South Korea is making multifaceted policy efforts for energy transition toward carbon neutrality under the principle of stable power supply," and added, "Based on ensuring stability, we plan to actively utilize nuclear power, a zero-carbon energy source, and expand renewable energy to a feasible and appropriate level."

The two countries also agreed to expand cooperation in clean energy sectors such as offshore wind power and hydrogen. Minister Lee expressed, "We hope cooperation leveraging South Korea's manufacturing base and capabilities and the UK's experience in offshore wind power generation will expand," emphasizing, "South Korea has experience and technological capabilities in hydrogen utilization, while the UK possesses leading technologies in hydrogen production such as electrolysis, so we expect organic cooperation."

Alongside this, Minister Lee conveyed concerns from the Korean home appliance industry regarding the UK's planned revision of the light source energy efficiency eco-design regulations aimed at improving appliance efficiency and requested attention to these concerns.

Lee Chang-yang, Minister of Industry and Energy.

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