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Korea to seek closer ties with foreign nuclear firms for exports

Korea will increase its partnerships with foreign atomic energy companies as part of efforts to expand the exports of its nuclear technology, a government ministry said Tuesday after a meeting with related public firms here.

Vice Trade, Industry and Energy Minister Woo Tae-hee presided over the session in Seoul joined by representatives from the Korea Electric Power Corp. and the Korea Hydro & Nuclear Power Co.. 

This photo, provided by the Ministry of Trade, Industry and Energy, shows Vice Minister Woo Tae-hee (second from left) presiding over a meeting with representatives from public energy firms in Seoul on July 5, 2016, to discuss ways to promote nuclear technology exports.(Yonhap)
This photo, provided by the Ministry of Trade, Industry and Energy, shows Vice Minister Woo Tae-hee (second from left) presiding over a meeting with representatives from public energy firms in Seoul on July 5, 2016, to discuss ways to promote nuclear technology exports.(Yonhap)




















Participants discussed ways to promote South Korea's exports of nuclear plants, in particular, according to the ministry.

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," it 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.

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. (Yonhap

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