KHNP to Lead Nuclear Power Plant Exports

Korea Hydro & Nuclear Power (KHNP) president Chung Jae-hoon said on June 7 that KHNP would take a leading role in exporting nuclear power plants from now on in place of the Korea Electric Power Corporation (KEPCO).

As he mentioned, KEPCO has led South Korea’s nuclear power plant exports so far, as seen in examples such as the Barakah Nuclear Power Plant Project in the UAE and the Moorside Nuclear Power Plant Project in Britain. However, Chung said that KHNP would take the lead based on its technological and project financing capabilities.

KHNP is going to focus its resources on the Czech Republic, Slovakia, Poland and the Philippines. At present, the Czech Republic is planning to build 1GW nuclear power plants in Dukovany and Temelin. Six organizations – KHNP, CGN of China, Rosatom of Russia, EDF of France, Westinghouse of the United States, and ATMEA as a French-Japanese consortium – applied for the projects two years ago.

Chung also remarked that KHNP is expected to obtain the design certification of the U.S. Nuclear Regulatory Commission (NRC) in September this year with the company already having passed two-thirds of the six phases for the certification.

He also pledged to turn KHNP into a global energy company. “EDF, the largest nuclear power company in the world, has a nuclear power business ratio of 54% and the ratio is 66% for Exelon of the U.S.,” he said, adding, “Hardware is currently the main profit source of KHNP, but software will take its place in the future.”