Cost sharing agreed for KEDO reactors

27 August 1998

South Korea has agreed in principle to pay 70% of the cost of building two nuclear power units in North Korea as part of the US -brokered deal to end North Korea’s indigenous nuclear programme. The new arrangements, which must still be ratified, were agreed at a board meeting of KEDO, the Korean Peninsula Energy Development Organisation where the project cost was revised downwards from $5.18 billion to $ 4.6 billion, reflecting exchange rate changes. The other main contributor, Japan, will stump up a further $1 billion. The US and EU will pay most of the rest.

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