The settlement, which also involves Korea Electric Power Corp. (KEPCO) and Cameco, a Canadian nuclear fuel company and Westinghouse shareholder, resolves a contentious dispute over the rights to nuclear reactor technology.
According to industry insiders, the agreement sets the stage for KHNP to focus on its bid for the Czech Republic’s Dukovany nuclear power plant project, where it plans to offer its APR1400 reactor design.
The disagreement centered on the origins of the APR1400 reactor, with Westinghouse asserting ownership of the technology while KHNP maintained that it had developed the design independently.
While details of the settlement remain confidential, sources suggest the agreement includes market coordination. KHNP is expected to collaborate with Westinghouse for entry into the European market, while pursuing projects in the Middle East independently with its Korean-developed reactors.
The settlement follows a memorandum of understanding recently signed between the governments of South Korea and the United States aimed at enhancing communication and cooperation on nuclear power exports. The agreement reflects efforts to resolve tensions and strengthen ties in the nuclear energy sector.
“Nuclear dialogue had been stalled for about eight years, but we’ve resolved this through the MOU,” said Ahn Duk-geun, South Korea’s Minister of Trade, Industry and Energy. “I believe we’ve established a foundation to proceed with the Czech export without major issues.”
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