SK, Samsung among Korean firms considering Westinghouse stake acquisition
Major Korean companies including Samsung, SK and Doosan are considering participating in the acquisition of a stake in U.S. nuclear power company Westinghouse, according to industry sources. If private companies join nuclear cooperation between Korea and the United States, which has so far been led largely by state-run companies such as Korea Electric Power Corp. (KEPCO) and Korea Hydro & Nuclear…
Seoul-based conglomerates Samsung, SK, and Doosan are reportedly considering investing in U.S. nuclear power firm Westinghouse, according to industry insiders. This potential move, which could bolster Korean companies' presence in the U.S. nuclear energy sector, comes after state-owned entities like Korea Electric Power Corp. (KEPCO) and Korea Hydro & Nuclear Power (KHNP) have been primarily spearheading nuclear cooperation between the two nations.
Government and industry sources revealed on Wednesday that the government has been gauging the interest of nuclear power-focused companies in investing in Westinghouse since the announcement of Korea's investment plans in the United States. Companies keen on participating recently convened at a gathering organized by KEPCO to deliberate on potential investment avenues.
Among the firms represented at the meeting were Samsung C&T, SK Group, Hyundai Engineering & Construction, and Doosan Enerbility. Securing a stake in Westinghouse is considered a pivotal aspect of these investment discussions.
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