"Team K-US Is a Nuclear Juggernaut to Break China-Russia Monopoly... Only 18 Months Left in the Golden Time"

Nuclear Industry Breakfast Lecture

"U.S. Investment Projects Must Include Nuclear Power Plants"

"Successful Korea-U.S. Nuclear Cooperation Could Generate 150 Trillion Won in Economic Impact"

Professor Hongjong Cho of Dankook University’s Department of Economics is giving a lecture at the Nuclear Industry Association breakfast meeting held at Lotte Hotel Seoul on the 15th. Nuclear Industry Association

"It may no longer be feasible to expand globally as Team Korea. Going forward, we need to revise our strategy to Team K-US (Korea-U.S.)."

Professor Hongjong Cho of Dankook University's Department of Economics emphasized this point during his lecture on "Changes in the Global Energy Market Environment and Korea-U.S. Nuclear Cooperation" at the Nuclear Industry Breakfast Lecture, hosted by the Korea Nuclear Industry Association at Lotte Hotel Seoul on May 15. Professor Cho is an expert in the energy sector, having previously served as President of the Korea Resource Economics Association, a member of the Ministry of Trade, Industry and Energy's Energy Committee, and as Chair of the Power Supply and Demand Master Plan Committee.

Until now, Korea has promoted overseas nuclear power plant exports through a team composed of public enterprises and private companies, including Korea Electric Power Corporation, Korea Hydro & Nuclear Power, Doosan Enerbility, Daewoo Engineering & Construction, Hyundai Engineering & Construction, and KEPCO Nuclear Fuel. However, Professor Cho argued that Korea should shift its strategy to jointly enter Western nuclear power markets with American companies such as Westinghouse.

To this end, Professor Cho suggested that Korea should leverage its planned $350 billion investment in the United States. The government is planning to establish the Korea-U.S. Strategic Investment Corporation to fulfill its $350 billion investment commitment in accordance with the Special Act on Investment in the United States. The Korean government is currently discussing U.S. investment projects with the U.S. side, including the construction of liquefied natural gas (LNG) terminals. Professor Cho believes that nuclear power plant construction projects within the United States must be included as part of the U.S. investment portfolio.

Professor Cho stated, "We must immediately establish a task force for entry into the U.S. market," warning that "if delayed, the global nuclear power market leadership could be lost to the United States, Japan, or France."

He pointed out that, first, Korea must promptly initiate the process of obtaining certification from the U.S. Nuclear Regulatory Commission (NRC) for the APR1400, Korea's advanced reactor, to enter the U.S. market, and must also respond immediately to the surging demand for AI data centers in the United States. Demand for nuclear power plant construction in the U.S. has increased significantly since the Trump Administration signed the "Nuclear Renaissance Executive Order" in May last year.

Last January, Korea also resolved the main hurdle for exporting nuclear plants to Dukovany in the Czech Republic by reaching an agreement on intellectual property rights with Westinghouse. Professor Cho said, "We should use the Czech agreement as a model for global exports and jointly enter third countries such as Poland and Saudi Arabia." He emphasized, "The Team K-US export juggernaut will become a single package of the free world with overwhelming strength and organization, breaking the monopoly of China and Russia in the nuclear power market."

Professor Cho also proposed delegating the authority to sign long-term small modular reactor (SMR) supply contracts to major companies such as Doosan Enerbility and launching an inter-ministerial committee for uranium enrichment and reprocessing. The long-term SMR supply contract model would involve design by the United States, manufacturing by Korea, and government guarantees.

He also called for the launch of a long-term negotiation team to prepare for the full revision of the Korea-U.S. Nuclear Agreement, which expires in 2035. Professor Cho stressed, "We must achieve tangible results on these key agendas within the next 12 to 18 months."

Professor Cho estimated that, if the Korea-U.S. nuclear cooperation is successfully promoted—such as the entry of the APR1400 into the U.S. market and the global export of SMRs—it could generate an economic ripple effect of $100 billion (about 150 trillion won). This is equivalent to about 5% of Korea's 2025 gross domestic product (GDP), which is projected to be 2,663 trillion won.

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