Lays Foundation for Cooperation in Energy Security
Korea Hydro & Nuclear Power (KHNP) announced on Jan. 15 that it has signed a memorandum of understanding (MOU) with the Emirates Nuclear Energy Corp. (ENEC) of the UAE for cooperation in net zero acceleration under the Joint Declaration on Korea-UAE Comprehensive Strategic Energy Partnership.
KHNP CEO Hwang Joo-ho, who accompanied President Yoon Suk-yeol on a state visit to the UAE, promised to expand cooperation to build net-zero infrastructure, including nuclear power and hydrogen, in the presence of the two countries’ heads of state in Abu Dhabi.
This MOU is quite meaningful in that it laid the foundation for cooperation between the two countries to jointly achieve sustainable energy security based on trust built up through Korea's construction of a nuclear power plant in the UAE.
Under the MOU, ENEC and KHNP will form a consultative body in various fields and expand practical cooperation in developing export markets for nuclear power plants in third countries and jointly financing such projects in the future. In addition, they plan to closely cooperate in future technology development and R&D joint research such as small module reactor (SMRs) and micro modular reactors (MMRs).
“With the signing of this MOU, we will actively cooperate to move toward a partnership of future net-zero technology cooperation in various fields such as SMRs and hydrogen based on nuclear power technology and operational capabilities accumulated over the past 40 years,” Hwang said.
By Jung Suk-yee