During a recent visit to South Korea, UK Energy Security Secretary Grant Shapps signed a joint statement with Korea’s Trade, Industry & Energy Minister, Lee Chang-yang, on energy transition, including civil nuclear energy.
- Accelerating plans for civil nuclear – with the UK and the Republic of Korea in united agreement that nuclear energy has an essential role to play in creating secure and affordable energy;
- Agreement on collaborating to promote the highest standards of nuclear safety, regulation, security, safeguards and non-proliferation – setting a global standard; and
- Confirmation of plans to build robust and resilient nuclear supply chains and to share experiences in developing the latest advanced civil nuclear technologies – including small modular reactors (SMRs).
It reaffirms a shared commitment to accelerate a transition away from coal power and to collaborate on expanding renewable energy technologies.
Korea’s Ministry of Trade, Industry & Energy (METI) said it outlined a shared understanding on the need for an energy transition to low-carbon energy sources from fossil fuels and the agreement to strengthen cooperation in the nuclear power plant sector, including the possibility of Korean businesses participating in the construction of new plants in the UK.
The ministers also discussed possible cooperation in nuclear power plant design and construction, equipment manufacturing, nuclear power plant decommissioning, nuclear fuels, and SMRs.
“Korea has competitiveness in design, construction and equipment manufacturing of nuclear power plants while the UK has strengths in the decommissioning of nuclear plants and nuclear fuels,” Lee said. “The two countries can cooperate in a mutually beneficial way.”
Korea and the UK will also expedite talks on potential participation of the Korea Electric Power Corp (Kepco) in new NPP construction in the UK following the launch of the Great British Nuclear (GBN), which was recently established to oversee nuclear projects and support the UK nuclear industry.
The two countries also agreed to expand co-operation in the areas of offshore wind power and hydrogen. “We hope to expand bilateral cooperation by taking advantage of each country’s strengths - Korea’s manufacturing base and capabilities and UK’s experience in offshore wind power generation,” Lee said. “Korea has experience and technology in the supply of hydrogen,” he added.
Image: UK Energy Security Secretary, Grant Shapps, and Korea’s Trade, Industry & Energy Minister, Lee Chang-yang, with the joint statement (courtesy of Yonhap)
