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Korea, Saudi Arabia to push for nuclear reactor cooperation

Staff writer |
Leaders of South Korea and Saudi Arabia agreed to seek opportunities to build more than two small- and medium-sized nuclear reactors in the Gulf nation to forge bilateral cooperation in atomic energy ― projects that may be worth as much as $2 billion.

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During the summit talks, President Park Geun-hye and the newly crowned King Salman bin Abdulaziz Al Saud discussed ways to upgrade bilateral relations by strengthening cooperation in energy, creative economy, investment, medical services and information technology.

Park arrived in Saudi Arabia on Tuesday, after wrapping up a three-day visit to Kuwait. Saudi Arabia is second destination of her four-nation Middle East trip, which will also include UAE and Qatar.

After the summit, the two leaders observed the signing of a memorandum of understanding aimed at developing South Korea’s SMART reactors and commercializing its technology in order to jointly enter the global market.

The SMART reactors, designed by the Korea Atomic Energy Research Institute, was developed to target the Middle Eastern countries as it generates electric power and also desalinates sea water.

Under the agreement, the two countries are set to conduct a three-year preliminary study by 2018 to review the feasibility of constructing SMART reactors in Saudi Arabia.

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