The Ministry of Trade, Industry and Energy (MOTIE) announced on Feb. 27 that it will strengthen cooperation in the energy sector with UAE, including nuclear power plants, following the visit of UAE Crown Prince Mohammed bin Zayed Al Nahyan.
On the same day, MOTIE Minister Sung Yoon-mo signed a memorandum of understanding (MOU) with the UAE secretary of state. The nuclear power industries of the two countries mutually agreed on support, cooperation, safety, security and quality of the nuclear power plants, and adopted the "declaration of cooperation for fuel loading, start-up and operation of the Barakah nuclear power plant unit 1."
The declaration was signed by the Korea Electric Power Corporation and the Emirates Nuclear Energy Corporation (ENEC) on behalf of the two industries. In particular, the nuclear power plant industries of the two countries have drawn attention as they have decided to establish standards for operation of Barakah nuclear power plants and actively cooperate in supporting long-term operations.
Meanwhile, Korea National Oil Corporation, Korea Gas Corporation, GS Energy, and SK Engineering & Construction signed MOUs with Abu Dhabi National Oil Company (ADNOC) to set up a foundation for cooperation for oil field, gas field development and exploration and construction of oil storage facilities.
"His visit has provided an opportunity for Korea and the UAE to strengthen cooperation in industry and investment, eco-friendly areas, nuclear power plants, oil and gas fields, and to expand cooperation in high-value new industries such as semiconductors, 5G networks, and new and renewable industries," Minister Sung said.