+++ 15. Januar 2010 +++
Renaissance of Nuclear Power:
South Korea Turns to Exports
After winning its first contract abroad, for four nuclear power reactors in the United Arab Emirates in December, South Korea now aims to secure $400 billion of contracts by 2030 as global demand for atomic energy increases, the Korean Herald reported on Jan. 13. The country plans to export 80 nuclear reactors by then and conquer 20% of the global market, according to the Ministry of Knowledge Economy, thus becoming the world's third-largest nuclear plant exporter.
"The best chance for South Korea will come in new nuclear countries, for example Indonesia, Vietnam, Malaysia, Thailand, and Middle East countries," Steve Kidd, director of strategy and research at the World Nuclear Association, said. The Koreans have definite advantages, including experience on a national level and lower costs: the government claims that it costs $2,300 per kilowatt to build Korea Electric's APR1400 reactor, as against $2,900 for Areva's EPR and Japan's ABWR.
The Ministry of Knowledge Economy stated that nuclear power and related businesses "are promising after automobiles, semiconductors and shipbuilding. We will promote the industry as a major export business." South Korea will target the $78 billion global market to operate, maintain and repair reactors, and is planning to secure a stable supply of fuel by buying stakes in uranium mines.
Related news item: South Korea Forges Ahead with Nuclear Power
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