Formal Signing of 'Korea-US Nuclear Export and Cooperation MOU'... "Expecting to Promote Cooperation in the Global Market"

The Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs announced on the 8th (local time) that they signed an inter-agency agreement (MOU) on "Korea-US Nuclear Export and Cooperation Principles" with the US Department of Energy and the Department of State. This formal signing took place two months after the MOU was initialed last November.

This MOU was signed between Korea's Ministry of Trade, Industry and Energy and Ministry of Foreign Affairs, and the US Department of Energy and Department of State. The ceremony was attended by Ahn Duk-geun, Minister of Trade, Industry and Energy, and Jennifer Granholm, US Secretary of Energy.

Anduk Geun (third from the left), Minister of Trade, Industry and Energy, is taking a commemorative photo with officials after signing the "Interagency Agreement (MOU) on Principles for Nuclear Export and Cooperation" with the U.S. Department of Energy and Department of Defense in Washington D.C., USA, on the 8th (local time). (Photo by Ministry of Trade, Industry and Energy)

The MOU reconfirms the principles of nuclear power cooperation to promote the peaceful use of nuclear energy between the two countries, and aims to strengthen export control cooperation by establishing an information-sharing system when transferring civilian nuclear technology to third countries. A Ministry of Trade, Industry and Energy official stated, "This MOU signing is expected to contribute to promoting mutually beneficial cooperation between the two countries in the global market in the future, based on the deep trust as a 'global comprehensive strategic alliance.'"

In a joint press release, the two countries stated, "Korea and the US have cooperated in the civilian nuclear field for over 70 years, and the foundation of this cooperation reflects the mutual commitment of both countries to maximize the peaceful use of nuclear energy under the highest standards of nuclear safety, security, safeguards, and non-proliferation." They added, "This MOU is based on the long-standing partnership between the two countries," and explained, "While strengthening export control management of civilian nuclear technology, it provides a framework for cooperation between the two countries to expand civilian nuclear power in third countries."

This MOU was signed amid efforts to resolve the intellectual property (IP) dispute between Korea Hydro & Nuclear Power and Westinghouse over the Czech nuclear power plant export issue. Based on this formal signing, it is expected that the two companies will resolve their conflict, which will also have a positive impact on confirming the Czech nuclear power plant contract.

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