[Asia Economy Reporter Jang Hyowon] Orbitech is showing strong performance amid expectations that the South Korea-US summit will include joint declarations on overseas nuclear power plant joint ventures and cooperation on SMR (Small Modular Reactor) joint development.
As of 10:01 AM on the 20th, Orbitech is trading at 7,300 KRW, up 390 KRW (5.64%) from the previous trading day.
According to media reports, a senior official from the Presidential Office stated on the 19th, "Issues related to nuclear power cooperation, such as SMR joint development cooperation and joint entry into the overseas nuclear power market, are included in the agenda for the South Korea-US summit and are under consultation with the US," adding, "Since the US nuclear power policy and the new government's nuclear power policy direction are aligned, it is highly likely that these will be included in the joint declaration."
Additionally, it is expected that the reactivation of the South Korea-US High-Level Bilateral Commission on Nuclear Energy (HLBC) will also be included in the joint declaration.
Previously, at last year's summit, South Korea and the US announced a nuclear power export cooperation plan focusing on three main points: cooperation on nuclear power export supply chains, requiring importing countries to accept the Additional Protocol to the International Atomic Energy Agency (IAEA) safeguards agreement, and holding the South Korea-US High-Level Bilateral Commission on Nuclear Energy.
Meanwhile, Orbitech is known as a leading nuclear power specialized company holding about 30 patents related to radiation management.
Recently, Orbitech was recognized for its nuclear power plant technology and invited as a major private company to the Small Modular Reactor (SMR) forum. Orbitech has also secured contracts for radiation management services for planned preventive maintenance at all domestic nuclear power plants.
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