Nuclear Ecosystem Financial Support Agreement... "Providing Loans Worth 100 Billion KRW Within the Year"

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The government and the financial sector will jointly support new investments in the nuclear power industry. Loans totaling 100 billion KRW are expected to be supplied within this year.

On the 4th, the Ministry of Trade, Industry and Energy held the 'Special Financial Support Agreement Ceremony for the Nuclear Power Ecosystem' and a meeting with nuclear power companies at the Korea Nuclear Industry Association, chaired by Second Vice Minister Choi Nam-ho.

Following up on the 14th Public Discussion on Livelihood held in February, the event was attended by deputy heads of six banks participating in this year's 100 billion KRW 'Nuclear Power Ecosystem Financial Support Project'?KB Kookmin, IBK Industrial, Shinhan, Busan, Woori, and Hana Banks?as well as the Acting President of the Korea Energy Technology Evaluation Institute and the Executive Vice President of the Nuclear Industry Association.

On the day, the Ministry of Trade, Industry and Energy, banks, and related organizations signed a special financial support agreement for the nuclear power ecosystem, agreeing to cooperate on project operation and management, inter-agency information sharing, and the development of support policies to resolve financial difficulties within the nuclear power ecosystem. All parties agreed that rapid liquidity supply is crucial to alleviate funding shortages for small and medium-sized enterprises, and have been accelerating procedures such as project announcement, selection of supported companies, and loan screening since January this year. As of the end of March, loans exceeding 34 billion KRW have been disbursed. More than 50 billion KRW is expected to be supplied this month, with the full loan amount of approximately 100 billion KRW scheduled to be delivered smoothly within the year.

Following this, Vice Minister Choi attended a meeting with beneficiary companies to hear the voices from the nuclear power industry field. Representatives of nuclear power companies at the meeting shared the revitalized atmosphere due to recent increases in orders and financial support, and requested continued interest and support for small and medium-sized nuclear power companies in areas such as investment activation, research and development (R&D) innovation, and strengthening export competitiveness.

Vice Minister Choi stated, "The government will provide unwavering support so that the nuclear power industry, which has entered a recovery phase this year, can leap into the future and the global stage," and urged, "We hope nuclear power companies will actively participate in qualitative advancement of the nuclear power industry through new investments and enhancement of technological capabilities."

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