Korea Hydro & Nuclear Power Saewool Headquarters Pays 22 Billion KRW Early to Saewool Units 3 and 4 Construction and Partner Companies

Saewool Nuclear Power Headquarters of Korea Hydro & Nuclear Power (Director Jo Seok-jin) will expedite the payment of 22 billion KRW in construction costs for Saewool Units 3 and 4 to contractors and partners ahead of Chuseok to secure a sustainable nuclear power industry foundation.

This early payment of construction funds is intended to assist contractors and partners with smooth cash flow before Chuseok, a period of concentrated financial demand.

Saewool Units 3 and 4, which are in full construction as a forward base to achieve the goal of exporting 10 nuclear reactors, recorded a comprehensive progress rate of 89.67% as of the end of August 2023.

The Saewool Headquarters had also expedited payments of 12.9 billion KRW in January and 51.9 billion KRW in March.

The Saewool Headquarters continuously holds win-win cooperation communication meetings to listen to, share, and derive improvement plans for the difficulties faced by partner companies.

Jo Seok-jin, Director of Saewool Nuclear Power Headquarters, said, “We expect this to help the management of contractors and partners who are struggling due to rising raw material prices and increased financial costs caused by high interest rates,” adding, “We will do our best to ensure the smooth progress of construction for Saewool Units 3 and 4.”

Saewool Units 3 and 4.

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