Daewoo Engineering & Construction Co. CEO Baek Jung-wan (L) and SK ecoplant Co. CEO Park Kyung-il pose for a photo at a signing ceremony at Daewoo headquarters in central Seoul on July 26, 2023 in this photo provided by the company.
SEOUL, July 28 (Korea Bizwire) — Daewoo Engineering & Construction Co. and SK ecoplant Co., two major builders in South Korea, said Thursday they have signed a memorandum of understanding to enhance cooperation on nuclear power plant projects.
According to the terms of the MOU, the two parties will exchange technology and personnel.
They will establish a consultative body if necessary to jointly explore ways to develop nuclear power plant projects both within and outside South Korea.
They also plan to create a cooperative system in the field of future energy, including hydrogen power.
With this partnership, their objective is to lead and gain a competitive edge in the rapidly-evolving nuclear power market, encompassing both large nuclear plants and small modular reactors (SMRs).
Their initial goal is to secure the contract for constructing the main facilities for the Shin Hanul 3 and 4 nuclear reactors, a decision the government is planning to make soon.
This bid will be the nation’s first nuclear project to follow the comprehensive evaluation bid special exemption construction method.
Kevin Lee (kevinlee@koreabizwire.com)
