[Exclusive] South African Power Corporation COO Visits Korea... Strengthening Nuclear Power Cooperation?

South African Power Corporation COO Arrives on 2nd to Inspect ESS Project
Also Covers Nuclear Power Schedule... Visits KHNP Saeul Nuclear Headquarters
Africa's Only Nuclear Power Country... Extends Operating Nuclear Plant Life by 20 Years
Expectations for Nuclear Cooperation... Government Accelerates South African Market Strategy

[Image source=Reuters Yonhap News]

[Asia Economy Sejong=Reporter Lee Junhyeong] Jan Oberholzer, Chief Operating Officer (COO) of Eskom, the South African state-owned power company, has visited Korea. He came to inspect a large-scale energy storage system (ESS) project being promoted with domestic companies and to examine Korea's nuclear power facilities. Expectations are growing that cooperation with South Africa, the only African country operating nuclear power plants, could be strengthened.

According to the industry on the 3rd, Jan Oberholzer, COO of Eskom, arrived in Korea on the 2nd. COO Oberholzer plans to stay in Korea for four days and three nights and return on the 5th.

COO Oberholzer's visit to Korea was arranged at the invitation of Hyosung Heavy Industries. Earlier in March this year, Hyosung Heavy Industries won a 97 billion KRW contract for the installation and maintenance of ESS ordered by Eskom. COO Oberholzer is scheduled to visit Hyosung Heavy Industries' ESS business sites operating domestically to inspect the project.

Notably, COO Oberholzer will also attend nuclear power-related schedules in Korea. Following visits to Hyosung Heavy Industries' domestic business sites, he will visit the Korea Hydro & Nuclear Power's Saeul Nuclear Headquarters located in Ulsan and the Korea Institute of Nuclear Graduate School (KINGS). In particular, COO Oberholzer will meet with President Yoo Ki-poong and foreign students including those from South Africa at KINGS.

Jan Oberholzer, Chief Operating Officer (COO) of Eskom.
Photo by Eskom official website capture

This is why the nuclear power industry is paying close attention to this visit. COO Oberholzer's visit to domestic nuclear power facilities could serve as a catalyst to further strengthen nuclear cooperation between Korea and South Africa. South Africa is the only African country with nuclear power plants, operating two 900MW reactors in Koeberg, Western Cape Province. Eskom has already entrusted domestic nuclear companies such as KEPCO KPS with maintenance work on its nuclear plants.

The growth potential of the South African nuclear market is significant. According to Fitch Solutions, a subsidiary of the international credit rating agency Fitch, as of last year, coal accounted for 87.3% of South Africa's power generation, while nuclear power accounted for about 6%. Considering South Africa must steadily reduce its reliance on coal-fired power in line with global carbon neutrality trends, the role of nuclear power is expected to increase. In fact, the South African government decided to extend the operation of the Koeberg nuclear plant, whose design life expires in 2024, by about 20 years. South Africa also considered a new 2.5GW nuclear power plant construction project in 2020.

Accordingly, the government is accelerating efforts to target the South African nuclear market. South Africa is one of Korea's strategic countries for nuclear power exports, along with the Czech Republic and Poland, which are pursuing new nuclear projects. The government is considering designating the South African diplomatic mission as a nuclear export hub.