Ministry of Trade, Industry and Energy joins nuclear sector to map out next steps for nuclear exports

Kang Gam-chan, director general for trade and investment at the Ministry of Trade, Industry and Energy [Yonhap]
Kang Gam-chan, director general for trade and investment at the Ministry of Trade, Industry and Energy [Yonhap]

South Korea's nuclear industry — spanning the private sector, academia, research institutions and government — is joining forces to open a new era of nuclear exports, with the country's entry into the US market serving as a springboard. The government plans to roll out tailored new support measures targeting the US and other global markets starting next year.

The Ministry of Trade, Industry and Energy said it held the first Nuclear Export Leaders Forum on Wednesday at the Korea Press Center in Jung-gu, Seoul, with about 100 participants from across the nuclear industry, academia, research and government.

The event brought together Korea Electric Power Corporation, Korea Hydro & Nuclear Power, Kepco Engineering & Construction, Kepco Nuclear Fuel, Kepco Plant Service & Engineering, Doosan Enerbility, IPS, the Korea Nuclear Controls Institute, the Korea National Diplomatic Academy, the Nuclear Export Industry Association and the Korea Nuclear Industry Association. It was organized to flesh out strategies for Korean nuclear companies to enter overseas markets and strengthen public-private cooperation, building on the South Korea-US nuclear framework the two countries announced Thursday.

The framework envisions building eight large nuclear reactors in the United States using up to $120 billion from South Korea's investment fund for the US market. Two of the reactors would use South Korea's APR1400 design, while the remaining six would be built using Westinghouse's AP1000.

The forum was launched by the Nuclear Export Industry Association, centered on its member companies. The inaugural event was co-supported by the ministry and the association. Going forward, the association and the broader nuclear community plan to establish their own operating framework and hold the forum on a regular basis.

Director General for Trade and Investment Kang Gam-chan, who led the negotiations, and Lee Sang-eun, director of the nuclear export promotion division, attended the event and gave a firsthand account of the key agreements reached and the negotiation process. The ministry said participants expressed strong expectations for breaking into overseas nuclear markets.

The government plans to upgrade more than 30 existing support programs — covering certification, supplier registration and export credit insurance — and launch tailored new measures starting next year to help domestic companies enter the nuclear supply chains of the US and other global markets.

The ministry also plans to invite global nuclear industry players to NES 2026, an international nuclear export and safety conference to be held in Gyeongju from Oct. 27 to Oct. 29, where it will organize supplier briefings and business-to-business meetings.

"The achievement of this South Korea-US agreement is thanks to the hard work of the nuclear community, which has built a solid nuclear ecosystem and successfully completed projects," Kang said. "As demand for nuclear power expands worldwide, the government will spare no effort in supporting K-nuclear's advance into global markets."


oskymoon@heraldcorp.com