Seoul: The state-run Korea Electric Power Corp. (KEPCO) has initiated discussions with Vietnam, Saudi Arabia, and Turkey regarding potential nuclear power plant deals, as the company confirmed on Thursday. These talks highlight KEPCO's strategic efforts to expand its footprint in the international nuclear energy market.
According to Yonhap News Agency, several countries have expressed interest in South Korea's nuclear technology, inspired by the successful construction of the Barakah nuclear power plant in the United Arab Emirates (UAE). This project, completed last year, was South Korea's inaugural overseas nuclear power venture, secured through a 20 trillion-won (US$14.5 billion) contract in 2009. The Barakah plant consists of four nuclear reactors, all of which are now operational.
Recently, South Korea also clinched an estimated 26 trillion won project aimed at building two nuclear power units at the Dukovany nuclear power plant in the Czech Republic. However, the formal signing of this deal has faced delays due to a Czech court's injunction order, which temporarily halted the agreement.
KEPCO emphasized that the successful completion of the UAE project has bolstered the sustainability of South Korea's nuclear power industry and has paved the way for further overseas expansion. The company highlighted that the Barakah project provided local firms with an opportunity to enhance their engineering, procurement, and construction skills.
In addition to nuclear power, KEPCO plans to diversify its business portfolio in the Middle East, recognizing the region as a key market with growing demand for renewable energy. The company is gearing up to submit bids for six different energy projects in the area this year, which include a nuclear power plant construction project and a combined heat and power plant project in Saudi Arabia.