Korea came one step closer to receiving an order for the construction of nuclear power plants in Vietnam after President Lee Myung-bak struck an agreement in Seoul on Tuesday with his Vietnamese counterpart Truong Tan Sang.
The two leaders “agreed to cooperate to develop nuclear power plants using Korean technology, train personnel and transfer technology,” a presidential official said.
“This will help Korea win an order to build nuclear power plants in Vietnam,” he added.
Vietnam plans to build a total of 10 nuclear power plants. Russia and Japan have already won orders for two each.
Korea also hopes for two. The contracts are expected to be concluded late next year.
Korea joined the club of nuclear power plant suppliers in late 2009 when it won the US$40 billion bid for the construction and operation of four nuclear power plants from the U.A.E.
Bilateral cooperation in nuclear plant development started when the Korean minister of Knowledge Economy visited Vietnam in February. In three rounds of ensuing talks, the two countries reached agreement to develop Korean-type nuclear power plants .
“Vietnam still has to complete its own feasibility study and select a construction site. Furthermore, the two countries haven’t started price negotiations yet,” the presidential official added. “There’s still a long way to go.”
