U.S. official says Washington sees scope for nuclear fuel-cycle cooperation with S. Korea

Seoul, October 29 - A U.S. government official indicated on Thursday that Washington views potential for nuclear fuel-cycle cooperation with South Korea, encompassing uranium enrichment and spent fuel reprocessing. During a briefing in Seoul, the official noted that both nations have engaged in joint fuel-cycle studies over a prolonged period.

However, the official emphasized that such cooperation would necessitate further discussions under the South Korea-U.S. civil nuclear cooperation agreement, known as the 123 Agreement. This agreement serves as the legal framework for peaceful nuclear collaboration between the two countries, requiring U.S. consent for South Korea to enrich uranium and reprocess spent nuclear fuel.

The official highlighted the U.S. objective of increasing its nuclear power capacity to 400 gigawatts by 2050, driven by the deployment of advanced reactors, small modular reactors (SMRs), and large conventional plants. This ambition is supported by President Donald Trump's emphasis on expanding nuclear energy. The U.S. has invested approximately $3 billion in uranium enrichment capabilities, including high-assay low-enriched uranium, to ensure fuel supplies for advanced reactors both domestically and in export markets.

The official pointed out that Korean firms possess relevant experience and could contribute to this process. He also mentioned that major U.S. energy firms like Westinghouse Electric Co. are interested in partnering with South Korean companies such as Hyundai Motor Co. Furthermore, the U.S. encourages joint ventures between Korean and U.S. companies on nuclear projects in third-country markets, citing Westinghouse and Hyundai's collaboration on a reactor project in Bulgaria.

The official expressed a desire for Korean companies to participate in the resurgence of the U.S. and global nuclear sectors.