KHNP and Orano Expand Cooperation on Nuclear Fuel Supply Chain in the Presence of S.Korea and France Leaders

Korea Hydro & Nuclear Power (President & CEO KIM Hoe Chun, hereinafter “KHNP”) signed a Letter of Intent (LOI) with French company Orano for long-term cooperation in the uranium enrichment sector at the Elysee palace, in the presence of two Presidents of South Korea and France.

The LOI builds on the MoU on global and mutual cooperation in the nuclear fuel cycle signed between KHNP and Orano during France President Emmanuel Macron’s visit to South Korea in April. In particular, the signing of the LOI in the presence of both leaders is significant as it reflects the strong interest shared by South Korea and France in nuclear energy and the nuclear fuel supply chain, and further strengthens strategic cooperation beyond the corporate level.

Under the LOI, KHNP and Orano are preparing to deepen their ties*, further strengthening cooperation between the two companies in the front end of the nuclear fuel cycle. KHNP expects to expand its access to new Western enrichment sources and further diversify its nuclear fuel supply chain, while Orano expects to strengthen the foundation of its new enrichment projects .

KIM Hoe Chun, the President and CEO of KHNP, said, “Amid growing uncertainty in the global nuclear fuel market, it is critical to proactively secure reliable sources of supply. This LOI will serve as an important opportunity to expand cooperation between the two companies and further strengthen the stability of our nuclear fuel supply.”

Claude Imauven, the Chairman of the Board of Directors of Orano, said, “This cooperation with KHNP represents an important opportunity to further strengthen the relationship between the two companies. We look forward to continuing our cooperation in the front end of the nuclear fuel cycle”.

(*) KHNP owns 2.5% of Georges Besse 2 facility in France.