Korea Hydro & Nuclear Power announced that on Nov. 11, it signed a business agreement at the KHNP Radiation Health Center in Seoul to establish a strategic partnership with Samsung C&T for the development of overseas nuclear power projects.
The two companies agreed to collaborate on ▲joint proposals for new nuclear power projects utilizing business-to-business (B2B) cooperation ▲strengthening competitiveness for large nuclear power bids ▲collaboration on small modular reactors (SMRs) for the development of new overseas nuclear power projects. They especially plan to work closely to identify nuclear power projects in the Asia-Pacific region, where demand is expected to surge.
KHNP President Hwang Joo-ho said, “In the changing global business environment, we will work to build a stable partnership with Samsung C&T and utilize various business models to pioneer new markets.”
Samsung C&T President Oh Se-cheol said, “To lead the global nuclear power market, it is essential to establish differentiated business models tailored to the energy policies and demands of each country,” adding, “Leveraging the technical expertise and global experience accumulated by both companies in the large nuclear power and small modular reactor sectors, we will work together to create innovative synergies.”