"Smart Nuclear Reactors" to Be Sold in Saudi Arabia
"Smart Nuclear Reactors" to Be Sold in Saudi Arabia
  • Korea IT Times
  • 승인 2015.03.12 02:32
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Two small-sized nuclear reactors developed in Korea will be sold to Saudi Arabia. The value of the sale is estimated at US$2 billion, which is the first instance of export for Korean-made small reactors.

President Park Geun-hye held a summit meeting on March 3 with Saudi King Salman bin Abdulaziz Al Saud and signed a protocol for bilateral economic cooperation. The total number of memorandums signed today was 14 including the nuclear deal.

The two summits agreed that the two governments will form a partnership between the Korea Atomic Energy Research Institute and King Abdullah City for Atomic and Renewable Energy in the area of developing small-sized nuclear reactors. Under the terms of the deal, the Korean side will transfer technology for the "smart" nuclear reactor about the size of 100 megawatts and build two reactors for Saudi Arabia.

A Korean government official said, "Once preliminary review is over, we will get right to signing a $2-billion deal to build two reactors. Exports of small nuclear reactors have never been attempted in the world." The government expected it will be able to sign more deals other than the two reactors.

In addition, the two summits signed a memorandum to transfer creative economic models to Saudi Arabia. The Korean government successfully established a creative economy innovation center in Daejeon in partnership with SK Telecom.

Source: The Korea Economic Daily


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