Nuclear power public corporations of Korea and the United Arab Emirates (UAE) decided to pursue a plan to jointly enter third-country nuclear power projects.
The Ministry of Trade, Industry and Energy said on the 18th that immediately after the Korea–United Arab Emirates (UAE) summit, the two countries exchanged memorandums of understanding (MOUs) in the fields of nuclear power cooperation and trade in the presence of the leaders.
Korea Electric Power Corporation and Emirates Nuclear Energy Corporation (ENEC) signed a "memorandum of understanding on partnership for nuclear new technologies, AI, and global market cooperation in the nuclear power sector" and agreed to expand bilateral cooperation for the stable operation of nuclear power plants.
The two institutions decided to advance systems such as predictive maintenance of nuclear power plants, operating-environment simulation, and digitization of operating data by using AI and digital technologies, and, based on this, expand the Barakah nuclear power plant cooperation model to a global level and jointly enter third countries.
In the UAE, the Barakah nuclear power plant, which Korea exported for the first time, is in operation.
Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy and Minister Al Zeyoudi of the UAE Ministry of Foreign Trade signed a memorandum of understanding on the administration and operation of the Korea–UAE Comprehensive Economic Partnership Agreement (CEPA) Economic Cooperation Committee. The Korea–UAE CEPA, for which the National Assembly ratification process is underway, is Korea's first free trade agreement concluded with a Middle Eastern country.
The Ministry of Trade, Industry and Energy said it plans to activate the Economic Cooperation Committee simultaneously with the entry into force of the Korea–UAE CEPA, identify areas with high mutual cooperation demand between the two countries, and set clear priorities to enhance the effectiveness of the agreement's implementation.