en.Wedoany.com Reported - Currently, South Korea's nuclear power export system is independently handled by Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power (KHNP). A plan to restructure this system is expected to be announced as early as May. The plan is seriously considering establishing a Special Purpose Company (SPC) jointly by the two companies as a unified export channel.
According to industry sources on April 12, the Ministry of Trade, Industry and Energy of South Korea has recently initiated the final coordination work for the nuclear power export system reorganization plan. It plans to make a final decision based on the results of a study commissioned by the Korea Nuclear Export Industry Association last August and released last month.
Since 2016, KEPCO and KHNP have independently undertaken export projects and been responsible for different export regions. For example, KEPCO won the bid for the UAE's Barakah Nuclear Power Plant project in 2009 as the main contractor, and KHNP won the bid for the Czech nuclear power plant project last year as the main contractor. However, as a series of negative impacts emerged, such as restrictions on South Korean nuclear power plant exports to Europe during the intellectual property settlement with Westinghouse, and legal disputes between KEPCO and KHNP over additional costs for the UAE project, the South Korean government began to unify the nuclear power plant export system.
An official from the Ministry of Trade, Industry and Energy stated that the main direction has been determined. Due to focusing on external factors such as supply chain issues triggered by the Middle East crisis, a formal announcement is expected as early as May. The government is seriously considering establishing an SPC-type export enterprise, believing that the existing dual-track export system is unsustainable, and establishing an independent agency or integrating into one company is also unrealistic. The study commissioned by the Nuclear Export Industry Association analyzed the pros and cons of three options: establishing a third independent agency, merging under KEPCO or KHNP, and supplementing the existing dual-track system.
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