President Yoon Suk Yeol gives a congratulatory speech during a ceremony marking the completion of the Shin Hanul No. 1 and 2 reactors, and the resumption of construction of the same nuclear power plant's reactors No. 3 and 4 in Uljin, 330 kilometers southeast of Seoul, Oct. 30. Yonhap
Korea's envisioned memorandum of understanding (MOU) with Washington on nuclear export cooperation is expected to help the two countries boost ties and avoid potential disputes in the future, a senior industry official said Tuesday.
The remark came after Seoul and Washington said they have initialed the MOU that reaffirms their mutual commitment to promoting the expansion of peaceful nuclear energy while upholding the "highest standards of nonproliferation, safety, safeguards and security."
The agreement also came amid an ongoing dispute between Korea's Korea Hydro & Nuclear Power and Westinghouse Electric, a U.S. nuclear energy firm, over a nuclear reactor export issue.
"Technically, the agreement is not directly related (to the dispute)," a senior ministry official told reporters.
"I believe there has been progress in preventing the occurrence of similar situations, as we have established procedures for cooperation without engaging in disputes in terms of export control," the official added.
The official also noted that the agreement is expected to be signed in the near future, regardless of the outcome of the U.S. presidential election.
"Following the war between Russia and Ukraine, the nuclear energy market has been showing signs of recovery. There has been a sense of urgency that (the two countries) could miss the opportunity due to the corporate conflict," the official said.
"I believe that businesses can also pursue partnerships under a shared understanding over coordinated efforts between Korea and the U.S.," he added. (Yonhap)
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