[2025 Audit] KHNP Admits Limits to Independent Exports... "No Exports Possible Without Westinghouse Cooperation"

At the Audit, Vice President Jeon Daeuk Admits
"There Was Confusion Over Technological Independence"

Yonhap News Agency

Korea Hydro & Nuclear Power has partially acknowledged that it is impossible to independently export nuclear power plants without the cooperation of Westinghouse, an American nuclear power company, when exporting nuclear power plants.

At the National Assembly’s Trade, Industry, Energy, SMEs and Startups Committee audit held in Goseong, Gangwon Province, on October 20, Jeon Daewook, Vice President and Acting CEO of Korea Hydro & Nuclear Power, responded to Democratic Party lawmaker Kim Joungho’s question, “Korea Hydro & Nuclear Power and Korea Electric Power Corporation have claimed that exports are possible with independent technology, but this is not true. Isn’t it clearly stated in the full text of the agreement that the Korean-type nuclear power plant was developed using Westinghouse technology?” by saying, “That is correct.”

When Assemblyman Kim further pointed out, “Wasn’t Korea Hydro & Nuclear Power misleading the public by insisting on technological independence?” Vice President Jeon replied, “There was some confusion in the use of the term ‘technological independence,’ and there were practical limitations in the export process.”

Regarding concerns that, under the agreement with Westinghouse, entering the European market is impossible except for the Czech Republic, Vice President Jeon also acknowledged, “(Independent entry into the European nuclear power market) is impossible under the agreement.”

However, Vice President Jeon added, “Regions where independent entry is possible include Saudi Arabia, Asia, Africa, and South America,” and stated, “We are reviewing business opportunities in those regions.”

On this day, Assemblyman Kim strongly criticized, “During the Saudi nuclear power plant bidding process, Westinghouse demanded joint bidding by presenting its AP1000 model. If the structure is such that the United States monopolizes the profits even in Saudi Arabia while Korea bears all the risks, this constitutes a violation of the agreement and is an unfair transaction.”

In response, Kim Dongcheol, CEO of Korea Electric Power Corporation, said, “Nothing has been decided yet regarding the Saudi nuclear power plant bidding,” adding, “This is a sensitive issue under discussion among Korea, the United States, and Saudi Arabia, so it is difficult to confirm specific details.”