Korea offers nuclear technology

  • 2010-02-24
  • From wire reports

VILNIUS - Korea is promoting its nuclear reactor technology for export to Lithuania, reports news agency ELTA. A nine-member Lithuanian government delegation arrived in Seoul on Feb. 17 for talks with relevant government ministries, including the Ministry of Knowledge Economy, about purchasing the reactors. The delegates include Lithuania’s Defense Minister Rasa Jukneviciene and Vice Minister of Energy Romas Svedas.

“The Lithuanian government is planning to build two nuclear power plants by 2018, and it is interested in Korean-made reactors, which are inexpensive and safe,” a Korean government official said. As Lithuania lacks the financial resources to buy the plants up front, Korea will export the technology as an independent power producer if the two sides clinch a deal. That means Korea would finance the construction, estimated at 3.7 billion euros for each power plant, and make the money back by operating the plants and selling the electricity.

In order for the reactors to be exported to Lithuania, they will first have to be redesigned in accordance with European nuclear standards. The government believes that a successful deal with Lithuania could lead to similar deals with other European countries, such as Poland.

“Meeting the European standards will not be difficult if we succeed in developing core nuclear technologies by 2012,” a Korean government official said, adding that “Then we will be able to export nuclear technology to more countries.” Korea is also set to make inroads into the Indian nuclear energy market. It recently agreed with India to form a task force on the construction of nuclear power plants in the South Asian country. The team will discuss the selection of a plant site, investment methods, and a construction timetable.