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REGULATION | Cesar Tordesillas, Korea
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S. Korea, India sign pact for nuclear cooperation

South Korea can now export atomic power plants to India after an agreement was reached by the two countries.

 

A pact was signed after summit talks between President Lee Myung-bak and India's President Pratibha Patil.

The agreement provides legal ground for South Korea's participation in India's atomic power plant construction project.

India now has 20 power-generating nuclear reactors in operation, six under construction and plans to build about 40 more by 2032. Russia, France and the U.S. have been active in India's nuclear power plant construction projects.

Seoul's state-run Korea Electric Power Corp. has been seeking cooperation with Nuclear Power Corporation of India Limited to get into India's nuclear power plant construction market.

During the summit talks, Lee asked Patil for India's cooperation for South Korea to get into the nuclear power plant business, the presidential office said in a statement. Lee also expressed hope for South Korea's participation in India's infrastructure construction projects, it said.

 "South Korea relies on nuclear power for about 40 percent of electricity needs and has worked steadily to improve the efficiency of atomic power plants and develop technologies," Lee was quoted as saying by presidential spokesman Park Jeong-ha.

 Lee also said South Korea's nuclear power technologies are "in the world's top class."

The spokesman said he anticipates that the two countries could launch negotiations on a reactor construction project in the future.

The full story is available at Yonhap News.

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