Seoul: The state-run Korea Electric Power Corp. (KEPCO) announced on Wednesday the signing of a significant memorandum of understanding (MOU) with Vietnamese energy firm Petrovietnam (PVN). This initial agreement aims to cultivate a skilled workforce for Vietnam's burgeoning nuclear power industry, symbolizing a strengthening of industrial ties between Seoul and Hanoi.
According to Yonhap News Agency, this MOU represents the first collaboration between PVN, the operator of Vietnam's Ninh Thuan 2 nuclear power plant, and a foreign entity in the nuclear sector. KEPCO aims to leverage this agreement to establish a strong presence in Vietnam, which has set a goal to operate four nuclear reactors by 2035.
The MOU signing followed a high-level summit in Seoul, where South Korean President Lee Jae Myung and Vietnam's top leader To Lam discussed expanding their Comprehensive Strategic Partnership. The leaders focused on enhancing cooperation in various sectors, including trade, security, and technology, while setting an ambitious target to increase bilateral trade to US$150 billion by 2030.
"With its world-class nuclear power project capabilities, KEPCO is the ideal partner for Vietnam to swiftly move forward with its nuclear power projects," stated KEPCO's President Kim Dong-cheol. He emphasized that nuclear cooperation with Vietnam will be a top priority for the company moving forward.
In addition to nuclear energy, KEPCO expressed intentions to strengthen collaborations in renewable energy, highlighting the broader scope of cooperation with the Southeast Asian nation.