Korea Hydro & Nuclear Power (KHNP) has signed a long-term supply agreement for converted uranium (UF6) with ConverDyn, a joint venture between General Atomics and Honeywell, and the only commercial uranium conversion facility operator in the US. The agreement, signed on the sidelines of the recent World Nuclear Association symposium in London, represents a significant step in solidifying nuclear collaboration between South Korea and the United States.
KHNP anticipates that the contract will not only secure supplies of converted uranium but also serve as a catalyst for expanding nuclear cooperation with the US. Korean companies are hoping to participate in new NPP projects in the US in line with the US government’s nuclear revival policy. At the recent Korean-US summit meeting in Washington, Korean and American companies signed four memorandums of understanding (MOUs) to bolster cooperation in the nuclear energy sector.
KHNP says the agreement with Coverdyn establishes a framework for safely storing and managing uranium resources in North America and positions KHNP to secure the raw materials needed for producing enriched uranium at US facilities. Currently, Korea fully imports enriched uranium from France, Russia and the UK, as it is banned from nuclear reprocessing and uranium enrichment within the country under a nuclear energy pact with the US.
KHNP President Hwang Joo-ho stated: “Through this contract, we can enhance energy security by securing a stable supply of converted uranium. We expect this to be an opportunity to further solidify nuclear cooperation between our two countries.”
