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.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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