Vietnamese president, Truong Tan Sang and South Korean president, Park Geun-hye, have agreed to further cooperation in the development of a new nuclear project in Vietnam.
The two governments welcomed the start of a joint preliminary feasibility study between Korea and Vietnam in June for nuclear plant development in Vietnam, which could be worth up to USD 10 billion. They also agreed to cooperate further on the development project in an agreement that builds on a March 2012 nuclear cooperation agreement between the two countries.
Vietnam has ambitious plans to build up to eight 1000 MWe-class reactors, as well as two larger plants by 2030, equating to a total installed capacity of around 10.7 GWe. Japan and Russia have each agreed to finance and build two 1000MWe class reactors at Ninh Thuan.
President Park Geun-hye (center left) and Vietnamese President Truong Tan Sang attend the signing ceremony of cooperation agreements between the two countries at the Presidential Palace in Hanoi, Vietnam, on September 9 (photo: Cheong Wa Dae)