South Korea's KHNP and France's Orano Expand Nuclear Fuel Supply Chain Cooperation

en.Wedoany.com Reported - On September 8, Korea Hydro & Nuclear Power (KHNP) and France's Orano SA (Orano) signed a letter of intent for long-term cooperation in the uranium enrichment sector at the Élysée Palace in Paris. The signing ceremony was jointly witnessed by the leaders of South Korea and France.

This letter of intent builds on the existing cooperation between the two parties. In April of this year, during French President Emmanuel Macron's visit to South Korea, KHNP and Orano had signed a memorandum of understanding on global, mutually beneficial cooperation in the nuclear fuel cycle sector.

According to the letter of intent, the two parties plan to deepen cooperation in the front-end stages of the nuclear fuel cycle. KHNP seeks to expand access to new Western uranium enrichment capacity and diversify its nuclear fuel supply chain, while Orano aims to solidify the cooperation foundation for its new enrichment projects.

The President and CEO of KHNP stated that amid rising uncertainty in the global nuclear fuel market, securing reliable supply sources in advance is of great importance. This letter of intent will provide an opportunity for both parties to expand cooperation and enhance the stability of nuclear fuel supply.

Claude Imauven, Chairman of the Board of Orano, stated that cooperation with KHNP helps further strengthen the relationship between the two parties, and Orano looks forward to continuing cooperation in the front-end sector of the nuclear fuel cycle.

KHNP currently holds a 2.5% stake in France's Georges Besse II uranium enrichment plant. Orano is primarily engaged in nuclear materials-related businesses, providing clients with products and services covering the nuclear fuel cycle.