nuclear-news

South Korea’s nuclear export industry at risk, as nuclear scandal widens

South Korea has its own nuclear challenge, Kearney Hub, 12 Nov 12 “….The Republic of Korea’s government has shut down several nuclear reactors after the discovery that safety certificates had been forged for some parts …. ,

public anxiety and criticism has spread rapidly — understandable after the Fukushima nuclear accident when the March 2011 tsunami and earthquake struck Japan. Moreover, South Korea has given high priority to developing a global nuclear export industry.
Several years ago, Korean firms won a $20 billion contract to build four nuclear reactors in the United Arab Emirates. South Korea plans to build 80 nuclear power reactors worldwide, worth an estimated $400 billion, by 2030. This would place the country on a
par with Russia and just behind France — the world leader in nuclear power export. U.S. government officials describe nuclear power as a foreign-trade high priority, along with automobiles, semiconductors and shipbuilding.

The unfolding Korean nuclear scandal doubtless will have regional and global impact. Today, any major production disruption in principal industries has immediate ripple effects. ….
South Korea’s problem occurs at a bad time. Last May, a Beijing summit brought together government officials from China, Japan and Korea to negotiate a new free-trade agreement and sign an initial accord on Promotion, Facilitation and Protection of Investment. …

November 15, 2012 - Posted by Christina Macpherson | business and costs, South Korea