Fund Set up to Support Nuclear Technology Exports

KHNP president Chung Jae-hoon (7th from left) poses with other officials to celebrate the establishment of Energy Innovation Growth Fund No. 1 on May 28.

Korea Hydro & Nuclear Power (KHNP) said on May 28 that it has established Energy Innovation Growth Fund No. 1 worth 30.5 billion won to support nuclear power technology exports and promote an entry into the nuclear dismantling industry.

The fund was based on KHNP's investment of 18 billion won, with the remainder coming from the Industrial Bank of Korea (IBK), Woori Bank, POSTECH, Gyeongnam Techno Park, KEPCO KDN, KEPCO KPS, Korea Electric Power E&C and KEPCO Nuclear Fuel. The fund will be managed by POSCO Technology Investment.

The fund will invest more than 50 percent of its funds in nuclear power-related companies and those wishing to enter the nuclear plant dismantlement business.

"KHNP and nuclear power plant-related companies have excellent construction, operation and export capabilities, and will soon secure dismantlement capabilities," KHNP president Chung Jae-hoon said at the launch ceremony. "We hope that this investment will help rev up the Korean nuclear power industry."

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