11/04/2014

Export of Korean Nuclear Technology Abroad: Netherlands Inks Deal with Korea for a Reactor Upgrade

Great news for Korea's Nuclear Industry.  Korea has inked a deal for the upgrading of a 2 megawatt to a 3 megawatt reactor at the Delft University of Technology in the Netherlands. 

The reactor purpose is not to produce electricity, but to produce neutrons and positrons for research purposes.  The reactor is the, only, Hoger Onderwijs Reactor (HOR) reactor in The Netherlands utilized by a university. 

 The Korean Herald has reported that:
"South Korea and the Netherlands signed a deal to improve a Dutch atomic reactor Monday, marking the first export of the Asian country’s nuclear technology to Europe.

The deal was signed in the presence of President Park Geun-hye and Dutch King Willem-Alexander at Cheong Wa Dae. The Dutch King and Queen Maxima were in Korea on a four-day state visit.

Under the agreement, a group of South Korean companies are set to increase the capacity of a nuclear reactor at Delft University of Technology from 2 to 3 megawatts, and build a research facility to study cold neutrons by the year 2018.

Korean companies will start working on the project worth $23 million in May next year, officials said. A South Korean consortium led by the Korea Atomic Energy Research Institute was chosen as the preferred bidder in June, beating rivals from France, Germany and Russia, they added."
The deal, in regard to nuclear reactors, is small, however, this is a great step in the direction of the export of Korea's nuclear technology to more European nations.  

The full article may be found at: Korea, Netherlands Sign Nuclear Reactor Deal.
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Sean Hayes may be contacted at: SeanHayes@ipglegal.com.

Sean Hayes is co-chair of the Korea Practice Team at IPG Legal. He is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty. Sean is ranked, for Korea, as one of only two non-Korean lawyers as a Top Attorney by AsiaLaw.