South Korea’s government which pursues phase-out from nuclear power as a part of President Moon Jae-in’s campaign promises has turned eager to sell its reactor technology overseas amid criticism that the phase-out plan will kill the industry and opportunity to earn multi-billion dollars from overseas.

Paik Un-gyu, South Korean minister of trade, industry and energy, met with Milan Stech, president of the Czech Republic`s Senate on Monday to discuss ways to cooperate on advancing Czech’s nuclear energy industry, said the trade ministry on Monday. Last week, he met Saudi minister for economy and planning Adel bin Muhammad Fakeih. Both countries are readying tender process for their first nuclear reactors.

Korea’s indigenous next-generation APR 1400 reactor technology gained international fame after it beat others to be chosen as the design for the first four nuclear reactors in the United Arab Emirates in a $20 billion deal in 2009.

Saudi wants to build seven reactors by 2030 to save on its oil reserves. It will embark on investigating bidders for two reactors soon. The industry has been worried that it would lose the multi-billion-dollar projects after the government suspended construction of Shin Kori 5 and 6, the first reactors to be active on the APR 1400 design once they are finished. The government recently resumed construction after a public poll but is intent on a two-track policy on nuclear power - going nuclear-free in the nation while earning revenue from its cutting-edge reactor technology from overseas.

Paik emphasized that Korea has an outstanding expertise in reactor construction and operation thanks to its 40-year-long experience of building and managing nuclear reactors both at home and abroad. He also stressed that Korea Hydro & Nuclear Power Corp. (KHNP), which operates the country’s nuclear power plants has gained approval on the modification to its existing nuclear reactor design from the European Utility Requirements (EUR).

The Czech government is expected to launch its nuclear project in the second half of next year.

Stech and his fellow senior officials from Czech visiting Korea this week are scheduled to visit KHNP and Doosan Heavy Industries & Construction Co., the country’s largest power plant equipment maker.

By Ko Jae-man and Cho Jeehyun

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