The South Korean government will launch a nuclear industry consultative body with the United Kingdom as a follow up to the latest Korea-U.K. summit. It is expected that nuclear energy cooperation between the two countries will gain momentum as the U.K. government pushes ahead with new nuclear power plant projects.

“With the commencement of negotiations to upgrade the Korea-U.K. Free Trade Agreement (FTA) in January 2024 in response to changing global business circumstances, the two countries will immediately form and activate new government-level consultative bodies for economy and finance, trade and investment, and nuclear power generation to implement agreed-upon measures meant to deepen bilateral economic ties,” Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said during a meeting of economy-related ministers at the government complex in Sejong City on Monday.

The government discussed a plan to follow up on the economic aspects of the summit at its meeting. The plan encompasses the four main areas of trade and investment, clean energy, science and technology, and development cooperation.

In the clean energy sector, Seoul and London are expected to launch a consultative body on the nuclear industry to allow Korean entities to participate in new nuclear plant projects in the United Kingdom. There will also be a push for bilateral cooperation in semiconductors, artificial intelligence (AI), digital technology, and space.

“The ‘Downing Street Agreement,’ adopted during President Yoon Suk Yeol’s state visit to the United Kingdom in November 2023, laid the groundwork for a leap forward in economic cooperation with London,” Choo said. “The government will continue following up on these four main areas.”

By Hong Hae-jin and Yoon Yeon-hae

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