SeAH Besteel, KEPCO Engineering & Construction Sign MOU on Nuclear Power Project... "Spent Nuclear Fuel Management"

Memorandum of Understanding for Domestic Used Nuclear Fuel Dry Storage Project Signed

A commemorative photo of SeAH Besteel, Orano TN, and Korea Electric Power Technology signing a business agreement to strengthen cooperation in the nuclear power plant business. From the left, Jaemin Lee, Head of Orano TN Korea Branch; Beomseo Park, Head of Nuclear Power Division at KEPCO E&C; Sangbeom Hong, Sales Manager at SeAH Besteel. (Photo by SeAH Besteel)

[Asia Economy Reporter Moon Chaeseok] SeAH Besteel announced on the 17th that it has signed a memorandum of understanding (MOU) with Orano TN, a U.S. radioactive material transport and storage company, and Korea Hydro & Nuclear Power Technology (KHNP Technology) to explore business opportunities and cooperate in the domestic dry storage project for spent nuclear fuel.

The three companies plan to exchange technology and information through the agreement, jointly enter the nuclear power business, and strengthen mutual cooperation.

Orano TN will provide and supply dry storage system technology. SeAH Besteel will be responsible for manufacturing and jointly supplying the dry storage system. KHNP Technology will handle licensing and engineering services for the dry storage system, including storage facility equipment.

SeAH Besteel expects a rapid increase in demand for the dry storage method, which cools spent nuclear fuel discharged after nuclear power plant operation by air in separate storage containers. Currently, most domestic nuclear power plants use the wet storage method, which stores spent nuclear fuel in internal storage pools.

SeAH Besteel delivered the spent nuclear fuel transport and storage cask ordered from Orano TN to the U.S. for the first time domestically in March of this year, and last year participated in Korea Hydro & Nuclear Power's high-burnup spent nuclear fuel transport cask project, conducting various evaluations.

A SeAH Besteel official said, "Through the MOU, we will establish a successful spent nuclear fuel dry storage business foundation that combines both safety and economic efficiency," adding, "We will actively respond to the domestic nuclear power market, which is expected to continue expanding, and play a leading role as a key supplier in the spent nuclear fuel processing business sector."