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S. Korea to export nuclear technology to Europe for first time in 50 years

S. Korea to export nuclear technology to Europe for first time in 50 years

2014.06.24 14:21:42

South Korea has de facto landed a deal to overhaul the Dutch research nuclear reactor.
This is the first time for Korea to export nuclear technology to Europe.
The Ministry of Science, ICT and Future Planning said Tuesday KAERI, a consortium comprising Korea Atomic Energy Research Institute, Hyundai Engineering & Construction and Hyundai Engineering, was picked as a preferred bidder for the ‘project to raise the research nuclear reactor’s output and construct cold neutron facilities at Delft University of Technology.’
The project seeks to boost the research reactor’s thermal output from 2 megawatt (MW) to 3 MW, upgrade various facilities and build cold neutron research facilities by the end of 2017. The deal is valued at 19 million euro (about 26 billion won). 
A research reactor is a facility that taps neutrons produced during the uranium’s nuclear fission to carry out diverse research. The reactor is used for a range of research purposes such as the analysis of nano-scale structure, an emerging new material, and biotechnology.
KAERI was named a preferred bidder after fiercely competing with France-based global nuclear power company AREVA and a consortium of Germany-based NUKEM and Russia-based NIEKET.
This is especially significant in that Korea diversified export destinations of nuclear technology from the Middle East and Southeast Asia to Europe, which has the world’s best technological capacity. Europe has cutting-edge research reactor facilities, such as the ILL in France and the FRM-2 in Germany.
The success stemmed from the experience of independently designing and operating Hanaro research reactor for 20 years and technological competence and price competitiveness proven in the cases of securing nuclear power plant construction order in the UAE and research reactor construction contract in Jordan.

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About bambooinnovator
KB Kee is the Managing Editor of the Moat Report Asia (www.moatreport.com), a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia; subscribers from North America, Europe, the Oceania and Asia include professional value investors with over $20 billion in asset under management in equities, some of the world’s biggest secretive global hedge fund giants, and savvy private individual investors who are lifelong learners in the art of value investing. KB has been rooted in the principles of value investing for over a decade as an analyst in Asian capital markets. He was head of research and fund manager at a Singapore-based value investment firm. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. He was previously the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. KB has trained CEOs, entrepreneurs, CFOs, management executives in business strategy, value investing, macroeconomic and industry trends, and detecting accounting frauds in Singapore, HK and China. KB was a faculty (accounting) at SMU teaching accounting courses. KB is currently the Chief Investment Officer at an ASX-listed investment holdings company since September 2015, helping to manage the listed Asian equities investments in the Hidden Champions Fund. Disclaimer: This article is for discussion purposes only and does not constitute an offer, recommendation or solicitation to buy or sell any investments, securities, futures or options. All articles in the website reflect the personal opinions of the writer.

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