Korea and U.S. sign MOU on nuclear exports and cooperation

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Korea and U.S. sign MOU on nuclear exports and cooperation

Published: 05 Nov. 2024, 11:58

A nuclear power plant in Dukovany, Czech Republic in 2011. [AP/YONHAP]

Korea and the United States initialed a memorandum of understanding (MOU) on principles concerning nuclear exports and cooperation last week, the U.S. Department of Energy said Monday, calling it a "significant" outcome.

The two sides inked the MOU on Friday, reaffirming their mutual commitment to promoting the expansion of peaceful nuclear energy while upholding the "highest standards of nonproliferation, safety, safeguards and security," according to the department.

"Consistent with the deep and longstanding relationship between the United States and the Republic of Korea, the two countries reached a significant outcome on November 1, advancing their cooperation on civil nuclear energy by initialing a Memorandum of Understanding on Principles Concerning Nuclear Exports and Cooperation," it said in a statement.

The department pointed out that the two sides strengthened their administration of export controls on civil nuclear technology.

"These further commitments will provide a springboard for the expansion of our bilateral work in combating climate change, accelerating global energy transitions, and assuring critical supply chains while creating billions of dollars worth of new economic opportunities and the creation or maintenance of tens of thousands of manufacturing jobs for both of our industries," it said.

The MOU will proceed to a final review in both countries' capitals, according to the department.

The initialing of the document followed a dispute between Korea's Korea Hydro & Nuclear Power (KHNP) and Westinghouse Electric, a U.S. nuclear energy firm, over a nuclear reactor export issue.

Yonhap