South Korea will work with Saudi Arabia to set up a joint nuclear research center for the small-medium reactor market, the science ministry said Tuesday.
The agreement came at the bilateral nuclear commission meeting held in Riyadh, and
once administrative negotiations are completed, an agreement can be signed for the
project, according to the Ministry of Science and ICT.
The center can enhance the Middle Eastern country's know-how in the nuclear field as well as stimulate further research and development in South Korea, which is a global leader in the commercial atomic power sector, it said.
"At Monday's meeting, there was broad exchange on the SMART, or
System-Integrated Modular Advanced Reactor program, after the completion of the US$130 million pre-project engineering endeavor carried out by the two sides from 2015
through 2018," the ministry said.
The modular reactor is a multipurpose unit developed by the state-run Korea Atomic
Energy Research Institute. SMART places emphasis on economy and safety and has been designed specifically to win orders from countries that need small and medium reactors.
The ministry said that the two sides agreed to move to win standard design approval for
the reactor system in the future and to exchange information on the latest
nuclear-related policies and programs. (Yonhap)