South Korea and France Expand Cooperation in the Nuclear Fuel Sector
During South Korean President Lee Jae Myung's visit to France, a letter of intent on long-term cooperation in uranium enrichment was signed between KHNP and Orano.
South Korean company Korea Hydro & Nuclear Power and French nuclear fuel cycle company Orano have signed a letter of intent outlining long-term cooperation in the field of uranium enrichment.
Agreement Signed During Paris Visit
As part of South Korean President Lee Jae Myung's official visit to Paris, an important letter of intent was signed at the Elysee Palace.
Background of Strategic Cooperation
This newly signed letter of intent builds upon the memorandum of understanding reached during French President Emmanuel Macron's visit to South Korea in April.
This signing, which took place in the presence of the leaders of both countries, demonstrates the importance given to nuclear energy and the nuclear fuel supply chain.
Diversification of the Fuel Supply Chain
Through this agreement, KHNP aims to increase its access to new Western-centric enrichment sources and diversify its nuclear fuel supply chain.
Orano, on the other hand, plans to further strengthen the foundation of new enrichment projects with this cooperation.
Executive Statements and Future Goals
KHNP CEO Kim Hoe-chun stated that securing reliable sources is critical in the face of growing uncertainties in the global nuclear fuel market.
Orano Chairman Claude Imauven expressed that they would be pleased to continue cooperation on the front end of the nuclear fuel cycle.