KNFC Pledges to Become Global Leader in Nuclear Fuel

KEPCO Nuclear Fuel Company, or KNFC, (CEO Lee Jae-hee) has declared a new business vision to become a global leading nuclear fuel company.

Declaring the “Global Leading Nuclear Energy Partner” as the vision, KNFC CEO Lee Jae-hee recently announced its four main values – safe energy, sustainable energy, innovative energy, and clean energy. 

The new value system of Vision 2030 is based on the government-led Creative Economy & Innovation. By developing the world’s best nuclear fuel source technology and converging their accumulated technologies, the company will seek to not only raise productivity and create the high added values, but also create future growth engines through the development of new markets.  

Meanwhile, the KNFC is Korea’s sole nuclear fuel company specialized in designing and manufacturing the fuel. It was established in 1982 as a government reinvestment organization for domestically developing nuclear fuel and technology self-reliance for the entire process, from the production of nuclear fuel to its disposal. 

The KNFC, which has produced nuclear fuel since 1989, has succeeded in domestically designing and producing nuclear fuel. It has produced 950 tons annually – 550 tons for light water reactors and 400 tons for heavy water reactors – and supplied the entire quantity to its 24 domestic power plants. The company is planning to export its nuclear fuel to the United Arab Emirates (UAE) from 2016.

In addition to the production of nuclear fuel, KNFC is a research and development-centered high technology company that designs reactor cores which enable nuclear fuel to safely and economically produce electricity inside the nuclear reactors, to evaluate its safety, and to develop the next-generation high performance nuclear fuel.