The People Power Party evaluated the nuclear power export contract signed by the Yoon Suk-yeol government with the American corporation Westinghouse (WEC) as a stepping stone for entering the U.S. nuclear power market. They criticized the current government and ruling party's claims that the agreement is an unfair contract as "shallow political calculations."
Song Eon-seok, chairperson and floor leader of the People Power Party, said during an emergency committee meeting held at the party's central office in Yeouido, Seoul, on the 21st, "It has been revealed that the agreement between Korea Electric Power Corporation (KEPCO), Korea Hydro & Nuclear Power (KHNP), and the American Westinghouse last January was a "win-win" negotiation that not only secured the Czech nuclear power project but also laid the groundwork for K-nuclear's entry into the U.S. market."
"The president of KHNP, who is a nuclear power expert, said that the agreement is profitable even if it requires some sacrifice, and Minister Kim Jeong-gwan, appointed by President Lee Jae-myung, also stated that the contract was conducted normally," he explained. "If a long-term nuclear cooperation relationship is established with the U.S., the K-nuclear deal is expected to be significantly more favorable than unfavorable."
The chairperson also noted, "However, the government and ruling party are politicizing this as an unfair contract" and added, "Reports indicate that a nuclear version of 'Make American Shipbuilding Great Again' (MASGA) agreement, which allows the Korean nuclear industry to enter the U.S. market, will be signed ahead of the upcoming South Korea-U.S. summit next week."
He added, "This is a contract according to the agreement from last January, which they claim is unfair, and there is suspicion that they are framing the previous government's legacy for appearances while trying to embarrass it by accusing it of having made an unfair contract and monopolizing the credit with shallow political calculations. I hope they abandon such shallow politics and lead in safeguarding the national interest."
KEPCO and KHNP sparked controversy by agreeing to pay a technology usage fee of $175 million (approximately 240 billion won) each time they export one nuclear reactor over the next 50 years, as well as being reported to pay $650 million (approximately 900 billion won) for equipment purchases.