Meeting with KEPCO, KHNP, construction company employees involved in Barakah nuclear power plant contract
President Yoon: "Securing $30 billion, your dedication... Symbol of brotherly nation cooperation"
Sharing 'nuclear power export' know-how... Government and affiliated research institutes also strategizing
[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol stated on the 3rd, "We must continue to create the 2nd and 3rd success stories following the blessing of Barakah, the Republic of Korea's first exported nuclear power plant." The government is currently focusing its efforts on the 'nuclear power export propulsion' policy to restore the nuclear power ecosystem. After his recent overseas trip last month, President Yoon mentioned at a Cabinet meeting, "We will quickly restore the domestic nuclear power ecosystem, which is on the brink of collapse due to the nuclear phase-out policy, and lay the foundation for the nuclear industry to take off again."
On the same day, President Yoon held a luncheon at the Yongsan Presidential Office with personnel who played a leading role in securing and operating the Barakah nuclear power plant. He said, "The warm reception our delegation received in the UAE and the overwhelming $30 billion investment attraction were all born from your sweat and dedication in successfully constructing the Barakah nuclear power plant," adding, "You are the symbol of cooperation with our brotherly nation, the UAE." Attendees included the head of the KEPCO Abu Dhabi branch project management team and the head of the Korea Hydro & Nuclear Power (KHNP) Abu Dhabi branch, who have been involved since the early stages of nuclear cooperation with the UAE, as well as current and former executives from companies responsible for design and construction such as Samsung C&T, Hyundai Engineering & Construction, and Doosan Enerbility.
President Yoon Suk-yeol is watching a video on nuclear power plant construction during a luncheon meeting with businesspeople related to the Barakah Nuclear Power Plant in the United Arab Emirates (UAE) at the Yongsan Presidential Office building in Seoul on the 3rd. [Photo by Yonhap News]
President Yoon said, "Since the government's inauguration, we have been rapidly restoring the collapsed nuclear power ecosystem," and added, "To create greater achievements based on our outstanding nuclear technology, the government will do its best, including securing the Egypt El Dabaa project and signing a Letter of Intent (LOI) for nuclear cooperation with Poland." He continued, "As major countries around the world fiercely compete for leadership in the future nuclear power market, your field experience will be an important asset in overcoming difficulties you may face during overseas sales," and urged, "Please feel free to share any key points we should focus on or areas that need improvement today."
This meeting was arranged as President Yoon expressed his intention to "hear directly what impressed the client, the UAE." Khaldoon Al Mubarak, the Abu Dhabi Executive Office Chairman who is known to have coordinated behind the scenes during last month's state visit to the UAE, even visited the Davos Forum to declare in front of global CEOs that "the UAE has obtained everything it wanted from the 14-year nuclear partnership with Korea," which was a decisive moment. The plan is to call back the key figures behind Barakah's success to share their experiences for fostering the nuclear industry.
Attendees shared with President Yoon the cooperation process and know-how with the UAE. Kim In-yeop, former Executive Director at Hyundai Engineering & Construction, said, "As the site manager at the time, we had to build several units simultaneously to shorten the construction period," and shared vivid memories of the challenge, "We had to build accommodations for up to 22,000 people first while managing overseas personnel deployed locally." Lee Chang-mok, former head of KEPCO's UAE nuclear construction office, said, "Customer satisfaction is the most important," and added, "We proposed cooperation packages beyond nuclear power that the UAE wanted and gradually felt their hearts opening as we met various requests."
In line with President Yoon's determination to strengthen the nuclear power business, government ministries and affiliated organizations are moving swiftly. They have begun investigating major countries' nuclear policies and related legal systems, as well as establishing customized export strategies for countries with fewer nuclear reactors. The Korea Foundation for Nuclear Non-Proliferation and Control, the only domestic nuclear cooperation specialized institution, has started analyzing the administrative and legal systems of nuclear-utilizing countries and identifying related organizations. They have also selected target countries for initial investigation to gain an advantage in upcoming bilateral and multilateral consultations.
Korea Hydro & Nuclear Power (KHNP) has begun identifying key materials for nuclear power exports. There has also been discussion about considering the situations of countries with few nuclear reactors, such as Sweden. Additionally, benchmarking the 'France-China Power Partnership Association (PFCE)' is expected to be discussed. This approach involves forming specialized consultative bodies tailored to each country to establish customized export strategies. Earlier, on the 25th of last month, President Yoon stated at a Cabinet meeting after his overseas trip, "We will quickly restore the domestic nuclear power ecosystem, which is on the brink of collapse due to the nuclear phase-out policy, and lay the foundation for the nuclear industry to take off again." This reflects his intention to accelerate the 'nuclear power export propulsion' policy to restore the nuclear ecosystem.
A presidential office official said, "We expect that receiving important tips and keys to solving field difficulties will also help us prepare to enter the global nuclear business battlefield," and added, "We reaffirm that our greatest competitiveness lies in a strong nuclear ecosystem with solid partnerships, and this will serve as an opportunity to strengthen Team Korea's unity, which is responsible for everything from A to Z in overseas nuclear power construction and operation, including KEPCO, KHNP, and construction companies."
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