By Kim Tae-gyu
A few decades ago, the two countries were on opposite sides in the Cold War era. Now, they are seeking ways for win-win business solutions.
Korea’s Ministry of Knowledge Economy said Wednesday that it had signed an agreement with its Vietnamese counterpart on checking the viability of building a nuclear power plant.
They will initiate studies next month, which are expected to take around a year to conclude.
“Korea has practically clinched the status as preferred bidder to construct a nuclear power plant in Vietnam by agreeing to start feasibility checks for the project,” Deputy Knowledge Economy Minister Moon Jae-do said.
If the Vietnamese government and assembly approve, the Korean side would be able to win the project to operate a pair of nuclear plants there.
The Vietnamese government wants the plants to meet the rising demand for electricity and Korea wants to export its APR 1400 reactors to the Southeast Asian nation.
Late last year, the two nations agreed to cooperate on nuclear energy and this is the first substantive contract under which they would come up with specific plans.
Should Seoul be able to sign an agreement with Hanoi, it would mark a second achievement of the former in its plan to export its nuclear energy technology.
A Korean consortium led by Korea Electric Power Corp. signed an $18.6 billion deal with the United Arab Emirates in late 2009 under which they would build a total of four nuclear reactors there.
After the largest energy deal in the Middle East, Korea has strived to seal follow-up contracts to little avail, particularly in the aftermath of the Fukushima disaster in Japan last March.
If the Vietnamese deal fares well, Asia’s No. 4 economy is expected to gain fresh momentum in its long-term goal of raising its status through nuclear energy.
Korea is one of the world’s nuclear powerhouses as the country depends on the energy source to meet around a third of its energy consumption.
Showing posts with label Korean nuclear power plant. Show all posts
Showing posts with label Korean nuclear power plant. Show all posts
Wednesday, March 28, 2012
Monday, February 27, 2012
Turkey keen to build Korean nuclear power plant: envoy
Turkey is stepping up efforts to build a Korean nuclear power plant on its soil as it strives to become one of the top 10 economies in the world by 2023, Seoul's top envoy to Ankara said Monday.
The Turkish government's vision for 2023, the 100th anniversary of the establishment of its modern republic, includes becoming a top 10 economy from its current position of 17th in the world, Ambassador Lee Sang-kyu said in an interview with Yonhap News Agency.
"(Such economic growth) is linked to large power consumption, which is why Turkey is planning to build nuclear power plants," he said. "At the moment, Turkey meets most of its energy needs through gas imports, but it has decided that it will need atomic power plants to provide cheaper supplies of energy in the long run."
During summit talks earlier this month, South Korean President Lee Myung-bak and Turkish Prime Minister Recep Tayyip Erdogan agreed to restart stalled talks on a project to build two power-generating nuclear reactors on Turkey's Black Sea coast.
The talks on the atomic power plant have been suspended since 2010 due to wide differences on the location of the reactors, electricity prices and government payment guarantees.
Amb. Lee said he expects Turkey to reach a decision on the project within this year as it may take up to 10 years to complete construction of the nuclear power plant.
On Turkey's relations with North Korea, the envoy said the two countries established diplomatic ties in 2001, although neither side has opened an embassy in each other's country.
Diplomats from the two nations hold policy consultations every two to three years, and North Korean Vice Foreign Minister Kung Sok-ung visited Turkey last September mainly to ask for food aid, the ambassador said.
"Turkey is willing to give humanitarian aid to the North, and is in contact with international organizations such as the United Nations Development Program and the World Food Program (WFP) to send nutritional aid targeting pregnant women and children," he said.
North Korea is known to suffer chronic food shortages due to economic mismanagement and natural disasters. The communist country has relied on international handouts since the late 1990s when it suffered a massive famine, which was estimated to have killed 2 million people.
Last year, the WFP said a third of all North Korean children under five are chronically malnourished and many more are at risk of slipping into acute stages of malnutrition unless targeted assistance is sustained. (Yonhap)
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The Turkish government's vision for 2023, the 100th anniversary of the establishment of its modern republic, includes becoming a top 10 economy from its current position of 17th in the world, Ambassador Lee Sang-kyu said in an interview with Yonhap News Agency.
"(Such economic growth) is linked to large power consumption, which is why Turkey is planning to build nuclear power plants," he said. "At the moment, Turkey meets most of its energy needs through gas imports, but it has decided that it will need atomic power plants to provide cheaper supplies of energy in the long run."
During summit talks earlier this month, South Korean President Lee Myung-bak and Turkish Prime Minister Recep Tayyip Erdogan agreed to restart stalled talks on a project to build two power-generating nuclear reactors on Turkey's Black Sea coast.
The talks on the atomic power plant have been suspended since 2010 due to wide differences on the location of the reactors, electricity prices and government payment guarantees.
Amb. Lee said he expects Turkey to reach a decision on the project within this year as it may take up to 10 years to complete construction of the nuclear power plant.
On Turkey's relations with North Korea, the envoy said the two countries established diplomatic ties in 2001, although neither side has opened an embassy in each other's country.
Diplomats from the two nations hold policy consultations every two to three years, and North Korean Vice Foreign Minister Kung Sok-ung visited Turkey last September mainly to ask for food aid, the ambassador said.
"Turkey is willing to give humanitarian aid to the North, and is in contact with international organizations such as the United Nations Development Program and the World Food Program (WFP) to send nutritional aid targeting pregnant women and children," he said.
North Korea is known to suffer chronic food shortages due to economic mismanagement and natural disasters. The communist country has relied on international handouts since the late 1990s when it suffered a massive famine, which was estimated to have killed 2 million people.
Last year, the WFP said a third of all North Korean children under five are chronically malnourished and many more are at risk of slipping into acute stages of malnutrition unless targeted assistance is sustained. (Yonhap)
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