www.korea.net

Nuclear power plants in Yeonggwang, South Jeolla
Province, Korea (above). Construction of nuclear
power plant in Gori, Korea (right).
Korea Hydro & Nuclear Power Co., Ltd
Multibits Image
The UAE nuclear power plant deal is
being hailed as a gold mine that will
raise the country’s national profile. After
setting its first nuclear power plant in
motion in Gori in 1978, with the aid of
US technology, Korea will now get to
export its indigenous nuclear power
plant (APR 1400) for the first time, ushering
in a renaissance of nuclear power.
Korean President Lee Myung-bak says
China plans to build 100 nuclear power
plants, with 400 additional plants by
2030 worldwide and about 1,000 more
in the long term. “Korea has joined the
likes of the United States, Japan, France
and Russia as exporters of nuclear power
plants,” Lee said.
“President Sheikh Khalifa bin Zayed
Al Nahyan and I discussed building comprehensive
and strategic partnerships in
nuclear power as well as in education,
the latest technology and security,” Lee
added. “Our relations with the UAE
should bring us the second Middle East
boom. Unlike in the past, we should
make headways in high value-added
industries, centered on plants.”
The UAE deal includes the construction
of the first 1,400-megawatt reactor
by 2017 and a total of four reactors, in
the capital Abu Dhabi and Sila, 330km
to its west, by the year 2020. Over the
next 10 years, the construction contract
will amount to US$20 billion, which
would equal the amount generated by
exporting 1 million units of mid-sized
sedans or exporting 180 units of major
oil tankers weighing 300,000 tons.
Another US$20 billion will be earned
during the 60-year lifespan of the reactors
as Korea would oversee operations
and replace equipment as necessary.
“The UAE order will generate
110,000 jobs over 10 years,” a Blue
House official said. “Considering other
effects related to construction, equipment
manufacturing, architecture,
nuclear technology development and
financing, the deal will have an impact
on the nation’s economy as a whole.”
President Khalifa expressed hopes for
cooperation with Korea in various fields.
Mohamed Al Hammadi, CEO of the
Emirates Nuclear Energy Corporation,
said, “We were impressed by the worldclass
safety the KEPCO consortium presented
and that’s why we selected it.”
Hammadi, who will oversee the country’s
first nuclear power plant project,
added that the deal will be an important
starting point for the UAE nuclear power
industry, which will continue to develop
into the future.
“In the bidding, we regarded safety as
the most important factor,” Al Hammadi
explained. “The KEPCO consortium
received higher marks in safety than its
competitors. Whether the leading consortium
company could be held accountable
for participation of its partners and
whether the companies could honor the
deadline were other important criteria,”
the CEO added. “The consortium convinced
us that it could deliver the knowhow
for 30 years of successfully operating
nuclear power plants.”
Al Hammadi then added that ENEC
and KEPCO will form a joint venture to
operate the UAE nuclear power plants,
adding, “The two companies will be able
to create other joint ventures in areas
such as fuel supply. We’re also considering
sending our personnel to Korean universities
or institutes to develop our
nuclear technology. The UAE is trying to
reduce carbon emissions and use
nuclear energy for peaceful purposes for
sustainable growth,” Al Hammadi continued,
“We expect the two countries to
maintain a long-term relationship.”
KOREA
FEBRUARY
2010
37