Ministry of Trade Industry and Resources

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened the first Nuclear Power Plant Export Strategy Council meeting of 2026 on May 14 at the Korea Trade Insurance Corporation (K-SURE). During the session, chaired by Minister JK Kim, the Ministry unveiled a comprehensive roadmap to streamline Korea’s nuclear export framework.

These measures are designed to enhance the government’s strategic coordination and support, reflecting the fundamental nature of nuclear projects as government-to-government initiatives. MOTIR’s implementation strategy follows a two-tiered approach: immediate tactical actions and long-term goals to be realized by the end of 2026. As an immediate step, MOTIR will establish a public-private Nuclear Power Plant Export Planning Committee under the Council’s jurisdiction. This committee will serve as a central hub for project planning and coordination, while significantly bolstering external oversight and advisory functions regarding economic feasibility, risk management, and other critical factors. In recognition of the significant impact of nuclear power plant exports on national security and the economy, as well as the necessity for large-scale financing, the government intends to assume a more proactive leadership role by conducting reviews and seeking guidance from external experts to enhance project performance. 

Market management, previously divided between Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power (KHNP), will be consolidated into a unified, collaborative framework. Under this model, KEPCO and KHNP will jointly pursue overseas project development and lead contracting. In line with efforts to leverage each company’s strength, KEPCO will spearhead negotiations with partner countries and lead equity investments, while KHNP will focus on construction and operational management. However, to maintain continuity and leverage established expertise, KHNP will retain its lead role in project development, contracting, construction, and operations for large-scale exports to the Czech Republic and the Philippines, as well as for innovative Small Modular Reactor (i-SMR) initiatives.

Moving forward, as part of the Ministry’s long-term goals, MOTIR also plans to enact the "Nuclear Power Plant Export Promotion Act" (tentative title) by the end of 2026. This Act aims to evaluate the performance of KEPCO and KHNP respectively and, through public consultation, the Act will be enacted. This legislation will provide a robust statutory foundation for export support, encompassing market development, information systems, financing, government contributions, professional training, and technology certification. Furthermore, it will mandate that public institutions involved in nuclear exports consult with the government on major strategic decisions, including large-scale borrowing, investments, export contracts, and the transfer or modification of nuclear intellectual property rights. The Ministry is also evaluating the legal basis for a dedicated lead export agency responsible for the full project lifecycle—from feasibility studies and client negotiations to bidding and final contracting. Several options remain under active consideration, including consolidating functions within KEPCO or KHNP or launching a new, integrated export agency. 

During the meeting, KEPCO President Kim, Dong-cheol and KHNP President Kim Hoechun formalized a strategic partnership agreement for nuclear exports. The two companies agreed to bolster cooperation across all project stages and expand the exchange of information and personnel. Notably, they also agreed to amend the UAE nuclear power plant contract which allows for the dispute settlement to be arranged not in the United Kingdom but in Korea. This initiative follows the adoption of MOTIR’s proposal, aimed at reducing litigation expenses related to settlement disputes between parent and subsidiary companies during project execution. The strategy prioritizes resolving such conflicts through amicable negotiations to the greatest extent possible.

In addition, the Nuclear Power Export Strategy Council meeting addressed the successful execution of the Dukovany nuclear power plant project in the Czech Republic—contracted last June—alongside cooperation frameworks for Vietnam’s new nuclear project. Regarding the Czech initiative, the council reviewed the submission status of licensing and approval documents necessary for construction permits and discussed strategies to ensure the seamless delivery of all remaining documentation. They also evaluated pre-construction preparations, including comprehensive site surveys and the deployment of personnel to the Dukovany site. For the Vietnam project, the council presented future public- and private-sector implementation plans for nuclear development cooperation, honoring the agreements reached between the two countries' nuclear sectors during President Lee Jae Myung’s state visit in April.

“To navigate the complexities of nuclear exports involving the U.S., the Czech Republic, and Vietnam more effectively, we are establishing a cohesive ‘K-Nuclear One-Team’ framework backed by strong legislative support,” stated Minister JK Kim. “As AI expansion and evolving energy security needs trigger a global nuclear renaissance, the Ministry will leverage Korea’s industrial prowess to refine domestic coordination and bolster our economic feasibility and risk management systems.”