Ministry of Trade, Industry and Energy Signs Preliminary Feasibility Study Agreement with Vietnam for the Export of a Nuclear Plant

The 5th meeting of the Korea-Vietnam Nuclear Power Subcommittee was held at the JW Marriott Hotel in Seoul on June 7 under the participation of Mr. Kang Sung-cheon, Director General for Nuclear Power Industry Policy of Korea's Ministry of Trade, Industry and Energy(MOTIE) and Mr. Pham Manh Thang, Director General for Energy at Vietnam's Ministry of Industry and Trade. At the meeting, the two sides signed an agreement to conduct a preliminary feasibility study for constructing a nuclear power plant in Vietnam.

Under Vietnamese law, a preliminary feasibility study is the first official step for constructing a nuclear power plant, and the study will examine the plant construction site, nuclear reactors and the comprehensive plan on the nuclear plant construction.

Both sides agreed to conduct a preliminary feasibility study for 18 months. If the study results are approved by the Vietnamese Congress in early 2015, Korea will go one step closer to exporting a nuclear plant.

MOTIE will host Korea-Vietnam joint committees and high-level meetings in order to monitor the progress of the preliminary feasibility study.

Also, MOTIE will strengthen industrial cooperation with Vietnam through the construction of an incubator park and foster Vietnam's parts and materials industry so that Korea can win the project for building a nuclear plant in Vietnam.

Mr. Kang Sung-cheon of MOTIE said that Korea is making continuous efforts to enhance the safety of nuclear power plants, and added that he hopes that Korea's nuclear plant export will be able to contribute to the stable supply of electricity in Vietnam.

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