Government reviews acquisition of Westinghouse stake
Review of acquiring a stake in Westinghouse, focusing on solutions for Korea-U.S. nuclear power cooperation and investment Check the possibility of securing major nuclear power plant orders in the U.S. and easing the technology dispute
It has been reported that the government is considering acquiring a portion of the stake in U.S. nuclear power company Westinghouse. As South Korea and the U.S. conduct negotiations on investment in the U.S., including the construction of large nuclear power plants in the United States, this issue also appears to have been discussed.
This review is interpreted as part of efforts to strengthen nuclear cooperation between South Korea and the U.S., but some point out that the actual benefits may vary depending on the size of the investment and the scope of business participation secured. In particular, attention is being paid to whether it can ease the intellectual property dispute between Westinghouse and Korea Electric Power Corporation and Korea Hydro & Nuclear Power.
The U.S. appears to need South Korea's nuclear construction experience and supply chain capabilities, while the South Korean side is examining whether participation in Westinghouse shares can reduce export restrictions and technology disputes. However, the reactor type that the U.S. side has requested and the volume that the South Korean side can participate in remain key issues in the final stage of negotiations.