Seoul: South Korea's state-run Korea Hydro and Nuclear Power Co. (KHNP) announced it has entered into an enriched uranium supply agreement with a U.S. nuclear fuel provider, a strategic move aimed at diversifying its nuclear fuel sources.
According to Yonhap News Agency, the agreement with Centrus Energy Corp. will see the U.S. company supplying enriched uranium to KHNP over a 10-year period. This deal expands KHNP's current importation of nuclear fuels from five countries: the United States, France, Russia, Britain, and China. Previously, KHNP had purchased enriched uranium from four countries, totaling 2,077 tons between 2020 and 2024. France was the leading supplier, providing 38 percent of the fuel, followed by Russia at 32 percent, Britain with 25 percent, and China at 5 percent.
South Korea is reliant on foreign imports for enriched uranium due to international regulations prohibiting domestic enrichment of natural uranium. KHNP highlighted that diversifying its suppliers of enriched uranium enhances the stability of its fuel supply. The agreement with Centrus represents the first collaboration between Korean and American companies in the nuclear power sector since U.S. President Donald Trump assumed office. Centrus is notably the only American company authorized by the U.S. Nuclear Regulatory Commission to produce high-assay low-enriched uranium, a key component for next-generation nuclear power plants and small modular reactors.