US, S. Korea reach provisional agreement on nuclear co-op

The US and South Korea reached a significant outcome on November 1, advancing their cooperation on civil nuclear energy by initialing a Memorandum of Understanding (MOU) on Principles Concerning Nuclear Exports and Cooperation, Report informs referring to the US Department of Energy.

"The United States and the Republic of Korea reaffirmed their mutual commitment to promoting the expansion of peaceful nuclear energy while upholding the highest standards of nonproliferation, safety, safeguards, and security.

Toward this end, the parties strengthened their administration of export controls on civil nuclear technology. These further commitments will provide a springboard for the expansion of our bilateral work in combatting climate change, accelerating global energy transitions, and assuring critical supply chains while creating billions of dollars worth of new economic opportunities and the creation or maintenance of tens of thousands of manufacturing jobs for both of our industries. The MOU will proceed to final review in both countries' capitals," reads the report.