| KEPCO NF Signs MOU with Hyundai E&C to "Accelerate the Global Expansion of Korea's Nuclear Technology" |
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KEPCO NF Signs MOU with Hyundai E&C to "Accelerate the Global Expansion of Korea's Nuclear Technology" ■ Empowering Korea's position as a country with the most advanced nuclear technology through cooperation between KNF, Korea's sole producer of nuclear fuel, and Hyundai E&C, which built the most nuclear power plants in Korea ■ The two agreed on various matters such as decommissioning of nuclear power plants in Korea and abroad, and the handling of used nuclear fuel storage facilities and nuclear waste ■ Full-scale plan to diversify the nuclear business including nuclear power plant decommissioning, SMRs, and spent nuclear fuel ▣ On April 20, KEPCO Nuclear Fuel (KNF) and Hyundai E&C signed an MOU on nuclear power plant decommissioning in Korea and abroad and joint expansion in the spent nuclear fuel business.
▣ The event, which took place at the KNF headquarters located in Yuseong-gu, Daejeon, was carried out in the presence of key officials from both companies, including KNF CEO Choi Ik-soo and Hyundai E&C President Yoon Young-joon.
▣ The two organizations agreed to cooperate in nuclear power plant decommissioning, temporary and interim storage facilities for spent nuclear fuel, integrity evaluation of nuclear power plants, and nuclear waste processing. They will actively cooperate in technology and information exchange and business expansion in the said areas.
▣ It is highly anticipated that the partnership between KNF, Korea's sole nuclear fuel designer and producer, and Hyundai E&C, which built the most nuclear power plants in Korea, will produce great synergy in the spent fuel and small modular reactor (SMR) industries, as well as further bolster Korea's position as a country with the most advanced nuclear technology.
▣ Through the MOU, KNF's waste reduction technology and nuclear waste safety evaluation technology will pioneer new markets in nuclear waste treatment and dry storage facilities when decommissioning nuclear power plants in Korea. Additionally, their connections in nuclear fuel development and provision of related technical services are expected to further grow in the SMR sector.
▣ KNF is the only nuclear fuel producing and designing company in the country, supplying nuclear fuel to nuclear power plants in Korea and the UAE. Additionally, the company is developing technology for spent fuel performance testing equipment and nuclear fuel plant construction, and is exporting core nuclear fuel parts and service equipment to the US and China.
▣ Hyundai E&C secured exclusive global rights in developing SMRs from US company Holtec International in November last year. Hyundai E&C was the first among Korean companies to enter the US nuclear decommissioning market last March. The business agreement between KNF has laid the foundation for Hyundai E&C to diversity their business across the nuclear industry beyond nuclear power plant construction.
▣ Hyundai E&C retains the most experience building nuclear power plants among Korean construction companies. The company has constructed Kori Nuclear Power Plant Unit 1, Wolsong Nuclear Power Plant Units 1–2, Hanbit Nuclear Power Plant Units 1–6, Shin Kori Nuclear Power Plant Units 1–4, and UAE Nuclear Power Plant. It also boasts unrivaled technological prowess achieving zero accidents over the last 50 years.
[Attached] Photo commemorating the MOU signing |
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