800 Billion KRW Nuclear Power Plant Equipment Export Orders Released in Egypt Eldaba and Others

Ministry of Trade, Industry and Energy Announces Overseas Project Equipment Procurement Plan

Large-scale export orders that will alleviate the difficulties faced by small and medium-sized nuclear power companies due to a shortage of work caused by the previous government's nuclear phase-out policy are being released.

On the 29th, the Ministry of Trade, Industry and Energy held an 'Integrated Briefing on Nuclear Power Export Orders' at the KEPCO Art Center and announced plans to place orders for overseas project equipment worth 800 billion KRW across a total of 104 items.

The government is focusing its full policy capabilities on completely normalizing the nuclear power ecosystem by ▲resuming construction of Shin Hanul Units 3 and 4 ▲promoting continued operation of 10 nuclear reactors ▲supplying work orders worth 3.5 trillion KRW in 2023 ▲providing 200 billion KRW in financial support and establishing workforce training plans ▲developing Small Modular Reactor (SMR) technology and building an industrial base ▲preparing a special law on high-level radioactive waste disposal, among other measures.

Accordingly, the Ministry of Trade, Industry and Energy and Korea Hydro & Nuclear Power (KHNP) have decided to accelerate the pace of orders to promptly supply large-scale export orders to the domestic nuclear industry and to reduce the burden on companies participating in overseas projects, fully supporting the restoration of the domestic nuclear ecosystem.

First, equipment orders for the El Dabaa project in Egypt and the tritium removal facility project at the Cernavod? nuclear power plant in Romania will begin in October this year and continue until June 2024, with contracts to be swiftly finalized within six months after ordering.

Additionally, measures to significantly reduce the burden on domestic companies participating in overseas projects include ▲exemption from qualification screening for overseas projects (targeting KHNP qualified suppliers, approximately 215 companies) ▲recognition of domestic certification (KEPIC) and support for obtaining overseas certification if necessary (including acquisition costs and consulting) ▲payment of 15% advance payment (with ongoing consideration to increase the advance payment ratio) and loan support of up to 80% of the contract amount.

Kang Kyung-sung, the 2nd Vice Minister of the Ministry of Trade, Industry and Energy, stated, "We will do our utmost to make 2023 the first year of normalization for the nuclear power ecosystem," and added, "Let us work together in the public and private sectors to achieve the goal of securing overseas nuclear power equipment projects worth 5 trillion KRW by 2027 and exporting 10 nuclear reactors by 2030."