[Yonhap Photo]
SEOUL -- South Korea's trade and energy minister pledged full government support Monday for the producer of home-made reactors after Saudi Arabia selected five countries as preferred bidders for a multi-billion-dollar project to build nuclear power plants.
A South Korean consortium, led by Korea Electric Power Corp. (KEPCO) which produces reactors, was among five preferred bidders selected for a Saudi contract. As the world's biggest crude exporter, the Middle East country seeks to diversify energy supplies and reduce its dependence on hydrocarbons. Construction will start next year on two plants.
"Competition will be even more intense as all five countries that are hoping to bid were selected," Paik Un-gyu, minister of trade, industry and energy, told a meeting of KEPO and other companies involved in the consortium.
South Korea has tried to export its nuclear technology and home-made reactors since it secured a $20 billion contract in 2009 to build four reactors in the United Arab Emirates. "To maximize leverage in negotiations with Saudi Arabi, we will closely prepare for the possibility of alliance and ties between different countries in the bidding process," a ministry official said.
reporter
Lim Chang-won
cwlim34@ajunews.com
