The state-run Korea Electric Power Corp. said Wednesday it has signed an initial agreement with Vietnamese energy firm Petrovietnam to foster a workforce for Vietnam's nuclear power industry, as Seoul and Hanoi seek to expand industrial ties.
Under a memorandum of understanding signed earlier this week, KEPCO will work to expand its foothold in Vietnam, which aims to operate four nuclear reactors by 2035, according to company officials.
KEPCO noted this marks the first time PVN, the operator of Vietnam's Ninh Thuan 2 nuclear power plant, has signed an MOU with a foreign entity for cooperation in the nuclear energy sector.
The MOU was signed following a summit between South Korean President Lee Jae Myung and Vietnam's top leader To Lam in Seoul.
At the summit, the two leaders agreed to expand the countries' Comprehensive Strategic Partnership in trade, security, technology and other areas while pledging efforts to boost their bilateral trade volume to $150 billion by 2030.
"With its world-class nuclear power project capabilities, KEPCO is the ideal partner for Vietnam to swiftly move forward with its nuclear power projects," KEPCO's President Kim Dong-cheol said, adding that his company will place top priority on nuclear cooperation with Vietnam.
KEPCO also said it plans to bolster cooperation in renewable energy with the Southeast Asian nation. (Yonhap)
