November 28, 2024

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South Korean Industry Minister Lee Chang-yang (right) and British Minister of Department for Energy Security and Net Zero Grant Shapps hold up their joint agreement for cooperation on nuclear power and clean energy in Seoul on Monday. (Yonhap)

South Korea and Britain agreed to strengthen cooperation on nuclear power and clean energy, releasing a joint declaration Monday.

South Korean Industry Minister Lee Chang-yang met with British Minister of Department for Energy Security and Net Zero Grant Shapps in Seoul and agreed to work together to secure energy security and handle climate change, the Korean Ministry of Trade, Industry and Energy said.

Exchanging their thoughts on the importance of energy transition, the two ministers issued a joint declaration where they also agreed on South Korea taking part in constructing a new nuclear reactor in Britain.

London launched a new agency in charge of the country's nuclear power generation, the Great British Nuclear, in March.

“South Korea is making administrative efforts in multilateral aspects for energy transition to go net zero, while putting stable energy supply as a priority,” Lee said.

“South Korea plans to actively utilize nuclear power plants, that emit zero emission, to expand the usage of renewable energy"

Under their agreement, the two sides will further discuss cooperation not only on designing and constructing nuclear power plants and equipment production, but also on the decommissioning of nuclear plants, nuclear fuel and small modular reactors, the ministry added.

During the trip here, the British minister plans to visit the Shin-Kori nuclear plants and the Korea Radioactive Waste Agency during his trip here, the Seoul ministry said.

South Korea is one of the world's most prominent nuclear energy countries, with it supplying about one-third of the country's electricity supply.

The Korean government has been actively promoting exports of its nuclear plant technologies, and is currently involved in building its first nuclear power plant in the United Arab Emirates, under a $20 billion contract.

While administrations have introduced varying policies on nuclear power plants, incumbent President Yoon Suk Yeol has designated the sector as a strategic industry and set a target for nuclear power to provide a minimum of 35 percent of the country's electricity supply in 2036.

In a bilateral meeting the two ministers also discussed ways to cooperate in other clean energy sectors, including offshore wind power and hydrogen.

Lee raised anticipation for the two countries to increase their exchanges, as South Korea has strengths in manufacturing and Britain has experience in developing offshore wind power.

As for hydrogen, Lee said, "South Korea has much experience in commercial application of hydrogen, having the most hydrogen cars running, in the world."

"And just like South Korea, Britain possesses advanced technologies in hydrogen production. I look forward to close cooperation with Britain."

The two sides also vowed to keep up the momentum to increase exchanges, as the two countries mark the 140th anniversary of their diplomatic relations, the ministry added.

By Jo He-rim (herim@heraldcorp.com)