On August 31 in Kyiv, NNEGC "Energoatom" and the company Korea Hydro & Nuclear Power (KHNP) signed a memorandum of understanding to expand cooperation in the nuclear energy sector, which will promote the interests of sustainable social and economic development of Ukraine and the Republic of Korea.

The main areas of cooperation will be completion of units # 3 and 4 on Khmelnitsky NPP and the project "Energy bridge Ukraine - European Union".

The Memorandum of Understanding has been signed by the President of Energoatom Mr. Yuriy Nedashkovsky and the President and CEO of KHNP Dr. Seok Cho.

"Energoatom welcomes the start of cooperation with a leading global company – Korea Hydro & Nuclear Power. We believe that our mutual efforts will be a complementary momentum for domestic nuclear technologies development", said President of Еnergoatom Mr. Yuriy Nedashkovsky.

For the purpose of the Memorandum execution, during the meeting companies agreed to create the Steering Committee, which would include two co-chairmen (one representative from each side) and members of the Committee. Members of the Steering Committee will coordinate all cooperation under this Memorandum and develop cooperation based on relevant commercial agreements (or series of agreements).

 "I strongly believe that Khmelnitsky power units #3 and #4 project will be successfully completed when Energoatom and KHNP work together with a shared goal, given that both companies have accumulated extensive experience and expertise through the continuous construction and operation of nuclear power plants over the past 40 years", said the President and CEO of KHNP Dr. Seok Cho.

The memorandum stated that Ukraine and the Republic of Korea are the member countries of the International Atomic Energy Agency (IAEA) and the parties of the Treaty on the Non-Proliferation of Nuclear Weapons and that they adhere to their commitments of non-proliferation. Partners believe that their cooperation in the peaceful use of nuclear energy will contribute to sustainable social and economic development of Ukraine and the Republic of Korea.

Reference

Korea Hydro & Nuclear Power Co., Ltd. (KHNP) is the state-owned nuclear power company, which produces about 32% of total electricity production in the Republic of Korea. It is headquartered in the city of Gyeongju. KHNP is the owner and operator of 24 nuclear power units with total installed capacity of 21,716 MW. In addition, KHNP has 6  nuclear power units under construction and is planning to build additional 4 units in Korea.

State Enterprise National Nuclear Energy Generating Company "Energoatom" operates four acting nuclear power plants in Ukraine (Zaporizhzhya, Rivne, South Ukraine and Khmelnitsky). 15 nuclear reactors, including 13 VVER-1000 and two - VVER-440, with a total capacity of 13 thousand 835 MW function at four Ukrainian nuclear power plants.