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THE INVESTOR
May 11, 2021

S. Korea launches advisory body on promoting nuclear exports

  • PUBLISHED :March 04, 2021 - 11:10
  • UPDATED :March 04, 2021 - 11:10
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(Yonhap)

South Korea on Thursday launched a new advisory body to promote its exports of nuclear power plants, which were boosted by its successful penetration into the Middle East market.

The advisory body, composed of professors and industrial experts, will help South Korea set strategies in fostering nuclear energy as a new export engine, according to the Ministry of Trade, Industry and Energy.

The country also launched a new website (www.k-next.kr), in which overseas partners can access information on South Korean suppliers and related companies. A separate website will provide comprehensive information on overseas projects for local businesses as well.

South Korea, which has been seeking to break away from nuclear and fossil fuel, and instead utilize more green sources locally, nevertheless plans to continue to penetrate deeper into the overseas market.

In 2009, a South Korean-led consortium won a $20 billion contract to build four nuclear reactors in Barakah, 270 kilometers west of Abu Dhabi, in the country's first export of its homegrown atomic power technology.

The first reactor, completed in 2018, started its operation last year.

The country, meanwhile, plans to reduce the number of nuclear plants at home to 17 by 2034 from the current 24. Nuclear energy is responsible for roughly a quarter of the country's power generation. (Yonhap)

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