Hyundai Construction Signs Letter of Intent for Cooperation with Ukraine Nuclear Power Corporation

Hyundai Engineering & Construction announced on the 3rd that it signed a Letter of Intent (LOI) for cooperation on overall nuclear power plant projects with Ukraine's nuclear power company Energoatom in Paris, France, on the 30th of last month (local time).

On the 30th of last month (local time) in Paris, France, Yoon Young-jun, President of Hyundai Engineering & Construction (right), and Petro Kotin, President of Energoatom, took a commemorative photo after signing a letter of intent for cooperation on the overall nuclear power plant business.
[Photo by Hyundai Engineering & Construction]

Earlier, the two companies signed a Non-Disclosure Agreement (NDA) in January last year to exchange mutual business information.

With the signing of this LOI, the two parties plan to seek comprehensive cooperation in the nuclear field, including ▲supporting the promotion of large-scale nuclear power plants and SMR projects in Ukraine ▲securing funding for new nuclear power plant development ▲exchanging technology and experience related to nuclear research and development.

In addition, Hyundai Engineering & Construction is actively participating in Ukraine's reconstruction projects. Together with Holtec International, a U.S. nuclear power specialist company, Hyundai Engineering & Construction signed a Memorandum of Understanding for the installation of an SMR pilot in Ukraine by March 2029, followed by plans to deploy up to 20 units in the future.

Last month, Hyundai Engineering & Construction also expanded its efforts in Ukraine's energy infrastructure reconstruction by signing an agreement with Ukrenergo, Ukraine's power company, in Warsaw, Poland, regarding the construction and repair of transmission and substation facilities.

A Hyundai Engineering & Construction official said, “Hyundai Engineering & Construction is strengthening its leading position across the entire nuclear power value chain, including SMRs, nuclear decommissioning and storage facilities, and next-generation large nuclear power plants. With this cooperation agreement and ongoing efforts to enter the European market, we expect the global expansion of South Korea's nuclear industry to continue.”

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