KEPCO and Westinghouse discuss cooperation on nuclear power exports : Corporate

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June 09, 2022

Korea Electric Power Corp (KEPCO) says it has discussed with US company Westinghouse ways to cooperate in international nuclear power generation markets – South Korea aims to export 10 nuclear power plants by 2030.

The talks should be the start of wider cooperation (Image: KEPCO)

This follows a meeting between KEPCO CEO Cheong Seung-il and Westinghouse CEO Patrick Fragman on Wednesday in Seoul. Chung Jae-hoon, CEO of KEPCO subsidiary Korea Hydro & Nuclear Power (KHNP), which operates the country’s existing nuclear power plants, and Fragman also held talks during their three-day visit.

KEPCO, KHNP and Westinghouse will set up a joint working group to develop detailed plans.

The goal is to deepen cooperation in international nuclear power generation markets, KEPCO said, and follows U.S. President Joe Biden’s meeting with President Yoon Suk-yeol in May, which included a agreement to deepen ties in the field of nuclear energy, the talks “to be the beginning of practical cooperation in the nuclear energy sector between the companies of the two countries”.

KEPCO’s Cheong said the goal is to “develop a cooperative model for joint market entry of large overseas nuclear power plants and expand cooperation to various other areas.”

Chung of KHNP said there would be greater competitiveness if “Korea’s excellent business management capabilities, technology and supply chain are combined with the strengths” of Westinghouse.

Westinghouse acknowledged the constructive meeting between the companies and clarified that no agreements have been negotiated or signed between the parties regarding new reactor opportunities. Further discussions are planned to resolve outstanding issues regarding KEPCO/KHNP’s use of Westinghouse-licensed technology, a spokesperson said.

Westinghouse’s Fragman also visits Shin-Kori Units 3 and 4 in operation and Units 5 and 6 under construction to see “the operational and construction capabilities of Korean-style nuclear power plants,” according to KEPCO’s statement.

Last week, Westinghouse signed a strategic cooperation agreement with Hyundai Engineering and Construction to jointly participate in global AP1000 plant opportunities.

South Korea’s new president has pledged to reverse former President Moon Jae-in’s nuclear power phase-out policy, a policy that was introduced after he took office in 2017 and following of the 2011 Fukushima Daiichi accident in Japan. There has been speculation that the new government will resume construction of two more APR-1400s as Shin Hanul Units 3 and 4, continue to operate the current nuclear reactors for longer, and maintain the country’s energy share in nuclear. around 30%.

Four APR-1400s were also built at Barakah in the United Arab Emirates, the first export order for the reactor design. The first two of these units were connected to the grid in August 2020 and September 2021, respectively.

Research and writing by World Nuclear News




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