U.S., South Korea explore MOU on nuclear cooperation

The Department of Energy announced the news this week, saying, “The United States and the Republic of Korea reaffirmed their mutual commitment to promoting the expansion of peaceful nuclear energy while upholding the highest standards of nonproliferation, safety, safeguards, and security.”

The parties strengthened their administration of export controls on civil nuclear technology, which will provide a springboard for future partnership “in combatting 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,” according to the DOE.

In November 2023, South Korea formalized a partnership with the United Kingdom to promote business collaboration, address trade barriers, and encourage mutual development of the two nations’ energy sectors.

The MOU being discussed between South Korea and the U.S. will be reviewed by leaders in both countries before it is signed.

A closer look: South Korea is one of the world’s top nuclear power producers, even though coal is still used in more than 40 percent of the nation’s generation. The 25 gigawatts of nuclear energy produced in South Korea account for 28 percent of its electricity.

The previous administration had been phasing out nuclear, a reaction to concerns following the 2011 accident at Japan’s Fukushima Daiichi reactor. When Korean president Suk-Yeol Yoon took office in 2022, he reversed course.

One of Yoon’s first acts was to restart construction at the Shin-Hanul plant, where Units 1 and 2 were recently completed and brought on line. Construction of two more APR-1400 reactors (Units 3 and 4) continues at the site, where a ground-breaking celebration was recently held.