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S. Korea, Britain vow closer ties in nuclear energy sector

By Yonhap

Published : Nov. 21, 2023 - 22:12

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South Korean President Yoon Suk Yeol (left) and first lady Kim Keon Hee arrive at Stansted Airport, near London, on Nov. 20. (Yonhap) South Korean President Yoon Suk Yeol (left) and first lady Kim Keon Hee arrive at Stansted Airport, near London, on Nov. 20. (Yonhap)

South Korea and Britain agreed to strengthen their cooperation in the nuclear energy sector, including the construction of new power plants, the industry ministry said Tuesday.

The two countries signed nine memoranda of understanding centered on building a cooperative relationship spanning the entire lifecycle of nuclear power plants, according to the Ministry of Trade, Industry and Energy.

Industry Minister Bang Moon-kyu met his British counterpart, Claire Coutinho, and agreed to hold technical meetings in the near future with the goal of fostering cooperation in the construction of new nuclear power plants.

State-run South Korean energy firms, including the Korea Electric Power Corp., also forged a total of eight agreements, encompassing the planning, operation and dismantling of nuclear plants, to seek "the broadest possible relationship," the ministry said.

These agreements were reached on the margins of President Yoon Suk Yeol's state visit to the European nation that began Monday (local time).

Britain has been actively working to increase its reliance on nuclear power, aiming for nuclear energy to constitute 25 percent of its power generation by 2050, compared with the 15 percent recorded in 2020.

"The two countries can seek a mutually beneficial relationship as South Korea has strength in the construction of nuclear plants and equipment, and Britain has a competitive edge in reactor dismantling and the nuclear fuel sector," the ministry said in a statement. (Yonhap)