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Korea, India sign nuclear energy pact via The Korea Herald

South Korea and India on Monday signed a nuclear energy cooperation pact that will allow Seoul firms to sell atomic power plants in India’s multi-billion-dollar nuclear energy market, Korean officials said.

President Lee Myung-bak and his Indian counterpart Pratibha Patil signed the agreement after their summit talks in Seoul. The agreement, forged after years of discussions, will provide South Korean companies with legal grounds on which to officially take part in massive atomic power plant construction projects in India, according to South Korea’s presidential office.

The two countries began to discuss the pact on nuclear energy cooperation in June last year when Indian External Affairs Minister S.M. Krishna visited Seoul.
India currently has 20 power-generating nuclear reactors in operation, six under construction, and plans to build about 40 more by 2032. Other countries, such as the U.S. and Russia, are also keen to take part in the fast-developing country’s nuclear power plant construction project.

In 2009, South Korea proved its competiveness in the area by winning a $20 billion project to build four atomic power plants in the United Arab Emirates over rivals such as the U.S., France and Japan.

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