[THE INVESTOR] South Korea will strengthen its ties with foreign nuclear firms as part of efforts to ramp up exports of its nuclear technology, the government said on July 5.

In a meeting presided over by Vice Trade, Industry and Energy Minister Woo Tae-hee and joined by representatives from the Korea Electric Power Corp. and the Korea Hydro & Nuclear Power, participants discussed ways to promote South Korea’s exports of nuclear plants, in particular.

They agreed to “diversify the model of nuclear reactors so as to meet various demands of potential importers and seek strategic partnerships, including joint investment, with global atomic energy firms,” the Industry Ministry said.

Another agenda item was clarifying the role of KEPCO and the KHNP in the export campaign.

KEPCO used to monopolize businesses related to the export of nuclear reactors, but the KHNP was allowed to engage in those as well in the recent adjustment of public energy companies’ functions.

The two sides agreed to form a separate consultation channel to discuss strategy for reactor exports.

South Korea operates two dozen nuclear reactors. It aims to export 80 nuclear reactors by 2030. Its successful deals so far include a contract with the United Arab Emirates to build four reactors.

(theinvestor@heraldcorp.com)