Korea, U.K. declare enhanced cooperation in clean energy sector

Grant Shapps, U.K. Secretary of State for the Department for Energy Security and Net Zero and Minister of Trade, Industry and Energy Lee Chang-yang [Photo provided by Ministry of Trade, Industry and Energy]

South Korea and the United Kingdom (U.K.) on Monday declared to boost exchanges and cooperation in the field of energy, raising expectations that Korean companies may win orders from the European country originally known for its nuclear power plant industry.

According to the Ministry of Trade, Industry and Energy, Minister Lee Chang-yang and his counterpart Grant Shapps, U.K. Secretary of State for the Department for Energy Security and Net Zero, announced a joint declaration on enhancing ties in the clean energy sector.

The declaration outlined a shared understanding of Korea and the U.K. on the need for an energy transition to low-carbon energy sources from fossil fuels and the agreement to strengthen cooperation in the nuclear power plant sector, including the possibility of Korean businesses participating in the construction of new plants in the U.K.

The ministers also discussed various ways for cooperation in the nuclear power sector, including nuclear power plant design and construction, equipment manufacturing, nuclear power plant decommissioning, nuclear fuels, and small modular reactors (SMRs).

“Korea has competitiveness in design, construction and equipment manufacturing of nuclear power plants while the U.K. has strengths in the decommissioning of nuclear plants and nuclear fossil fuels,” Lee said. “The two countries can cooperate in a mutually beneficial way.”

Korea and the U.S. will also expedite talks on potential participation of the Korea Electric Power Corp. (KEPCO) in a new nuclear power plant construction in the U.K. following the launch of the Great British Nuclear (GBN), which was newly established last month to oversee nuclear projects and support the U.K.’s nuclear industry.

Shin Kori Nuclear Power Plant No. 3, 4 [Photo provided by Korea Hydro and Nuclear Power]

Secretary Shapps, in the meantime, plans to visit Shin Kori Nuclear Power Plant No. 3, 4, 5, and 6 located in Ulju-gun in Korea’s North Gyeongsang Province, and the Korea Radioactive Waste Agency in Gyeongju.

The U.K. announced a plan in April last year to increase the share of nuclear power to 25 percent by 2050 and build up to 8 new nuclear power plants in the country.

The U.K. launched the world’s first commercial nuclear power plant in 1956 and has continued cooperation with Korea for a long time, including its participation in the construction of Korea’s Kori Nuclear Power Plant, the world’s largest fully operational nuclear generating station.

The two countries also agreed to expand exchanges in the areas of offshore wind power and hydrogen, according to the declaration.

“We hope to expand bilateral cooperation by taking advantage of each country’s strengths—Korea’s manufacturing base and capabilities and U.K.’s experience in offshore wind power generation,” Lee said. “Korea has experience and technology in the supply of hydrogen,” he added, noting that organic hydrogen cooperation between the two countries is expected as the U.K. has leading technology also in hydrogen production.

The two countries also discussed plans for cooperation to establish energy security and respond to climate change.