Seoul: The United States understands South Korea's need to revise a bilateral nuclear energy pact to allow reprocessing of spent fuel and uranium enrichment for civilian energy use, Foreign Minister Cho Hyun stated. He noted that discussions between the two nations would soon commence to explore possible amendments.
According to Yonhap News Agency, Cho mentioned the "123 Agreement" in a radio interview, which currently permits South Korea limited spent fuel reprocessing and uranium enrichment below 20 percent, contingent on U.S. consent. South Korea aims to renegotiate this agreement to achieve greater autonomy in producing nuclear fuel for its civilian energy needs.
Cho highlighted South Korea's operation of 26 commercial nuclear reactors, emphasizing that no other country with such nuclear capacity relies solely on imported fuel. During the MBC Radio interview, he stressed the industrial necessity for enriching uranium and reprocessing spent nuclear fuel, adding that the U.S. has acknowledged these needs, paving the way for upcoming negotiations.
The U.S. has historically been cautious about lifting restrictions due to nuclear proliferation concerns, as reprocessing can yield plutonium, a potential nuclear weapons material. The 2015 revision allowed joint research on "pyroprocessing" technology, which poses fewer proliferation risks, though its economic viability remains uncertain.
A foreign ministry official clarified that no specific timeline has been established for renegotiations, though working-level talks continue without concrete objectives or deadlines for starting formal negotiations.
In response to inquiries about a potential announcement of South Korea's US$350 billion investment package terms during the upcoming Asia-Pacific Economic Cooperation summit, Cho indicated that no fixed timeline exists. He emphasized prioritizing national interests and commercial rationality over strict timelines, echoing President Lee Jae Myung's sentiment.
South Korea's investment commitment aims to secure U.S. concessions, such as lowering reciprocal tariffs on Korean products and reducing the sectoral duty on autos from 25 percent to 15 percent. Kim Yong-beom, the presidential chief of staff for policy, noted partial progress in narrowing the implementation gap during recent discussions in Washington.