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Korea Becomes World's Leading Nuclear Power Plant Exporter Updated: 2010-11-11 00:00:00 KST

The historic 40-billion US dollar contract with the United Arab Emirates last December to construct four 1,400 megawatt nuclear reactors in the region has elevated Korea's status as one of the leading nuclear power plant exporters in the world.
Considered to be the East Asian country's biggest-ever construction deal to date, the decade-long project comes more than 30 years after the first Korean-made nuclear reactor, the Gori 1, went into operation in 1978.
The Korean consortium led by the Korea Electric Power Corporation is known to have beaten out its international rivals thanks to its world-class safety performance and commitment to share expertise.
And chances are that the agreement will likely be succeeded by many more in line with the burgeoning demand for energy, including electricity in the UAE.
It wasn't long before Korea began looking at the prospects of striking its second nuclear power plant export deal with its close ally Turkey.
After signing a cooperation protocol in March to smooth out the negotiating process for a nuclear power plant project in the northern Turkish province of Sinop, the two countries sealed a memorandum of understanding in June to further discuss the details of the envisioned deal.
If all goes as planned, the two sides will likely sign an intergovernmental agreement at the G20 Seoul Summit to declare a joint venture in nuclear energy.
The East Asian nation, meanwhile, has devised a plan to export 80 nuclear reactors by 2030, raking in at least 20 percent share of the pie in the global market during the same period.
And Korean companies will attempt to become fully self-sufficient in nuclear technology over the next two years to freely design and construct reactors in regions like Turkey, Jordan and Southeast Asia.
With advanced technology and comparatively low prices under its belt, Korea continues to attract investment opportunities from all over the world.
Its latest nuclear cooperation agreement is with South Africa to work together in technical research and construction of nuclear reactors.
Choi You-sun, Arirang News.
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