Minister of Trade, Industry & Energy Baek Woon-kyu met with Adel bin Muhammad Fakeih, Saudi Arabian Minister of Economy & Planning, in Seoul on October 26 just before the “Korea-Saudi Arabia 2030 Business Forum held in Seoul on the day and said that South Korea is willing to take part in nuclear power plant construction projects in Saudi Arabia.
The Middle Eastern country is planning to build two 2.8 GW nuclear power plants in its territory by 2030. In addition, it is working on small reactors and deregulation in the nuclear power industry. The South Korean minister said his country can be a partner in the field of infrastructure establishment, manpower training, and preparation of rules, guidelines and regulations. The Saudi Arabian minister promised in response to provide relevant information on the current status of the industry and so on.
At present, many in the South Korean nuclear power industry are criticizing the government, saying that its policy for zero nuclear power is negatively affecting the industry and the overseas business of companies in the industry.
In this regard, the South Korean government announced on October 24 that it would have bilateral ministerial meetings and summit talks with the countries including Saudi Arabia, the Czech Republic and Britain so that more nuclear power plants can be built abroad by South Korean companies. The government is also planning to set up a nuclear power plant decommissioning research institute in the southeastern region of the country.