South Korea claimed that it has gained a momentum to export its indigenous nuclear reactor technology to the United Kingdom.

According to the Korean Ministry of Trade, Industry and Energy on Tuesday, Minister Paik Un-gyu met with Greg Clark, U.K. secretary of business, energy and industrial strategy (BEIS) responsible for nuclear construction projects, to discuss nuclear energy issues and signed a memorandum of understanding to cooperate in the two countries’ nuclear projects on the same day. The agreement aims to boost the participation of Korean companies, the state-run Korea Electric Power Corp. (KEPCO) and Korea Hydro & Nuclear Power Co. (KHNP), in various nuclear projects in the U.K., according to the ministry.

The deal is expected to speed up exports of Korean nuclear reactor technology to the U.K. Currently KEPCO is seeking to join the Moorside nuclear project led by U.K. constructer NuGen, entirely owned by Japanese Toshiba. The project aims to build a 3-gigawatt (GW) nuclear power station on land in West Cumbria, North West England. KHNP has also been reviewing buying a stake in Horizon Nuclear Power that has announced Wylfa nuclear project in Wales to build a 5.4-gigawatt power station with four units of reactors. Horizon Nuclear Power is a subsidiary of Japanese Hitachi.

During the meeting with Clark, Paik emphasized the excellence of Korea’s indigenous nuclear reactor technology and the country’s outstanding capabilities in reactor constructor and operation. Paik also asked for a joint study to assess the profitability and risk of nuclear businesses and to share related information, the ministry said.

In response, Clark highly praised Korea’s nuclear technologies and welcomed the country’s active role in developing nuclear power infrastructure in the U.K., according to the ministry.

Korean delegation led by Paik on Nov. 26 departed to three European countries - the United Kingdom, France and Czech Republic - for a seven-day trip to meet with officials from their government and political circle in a bid to seek new opportunities in their nuclear power plant market.

Korea that is set to wean the country off from nuclear power under the new administration has been aggressively seeking to export Korea’s reactor technology. Korea’s next-generation APR 1400 reactor technology has gained international fame after it beat rivals to be chosen as the design for the first four nuclear reactors in the United Arab Emirates in a $20 billion deal in 2009.

By Ko Jae-man and Lee Ha-yeon

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