US official calls Korean firms' participation in nuclear expansion 'almost mandatory'
International Atomic Energy Agency (IAEA) Director General Rafael Grossi delivers a welcoming address by video at the opening ceremony of the IAEA’s International Ministerial Conference on Nuclear Power at Songdo Convensia in Incheon’s Yeonsu District, Oct. 27. Yonhap
Washington considers the participation of Korean companies all but essential to its nuclear expansion, a U.S. government official familiar with the matter said in Seoul Thursday, as the two countries look to build reactors at home and in third countries.
“I think it's almost mandatory that we will have Korean companies involved,” the official said, after attending the International Ministerial Conference on Nuclear Power in Incheon.
“We would like to have Korean companies participate in moving forward the renaissance in U.S. and around the world,” the official added. “We do need Korean companies, who have very good experience in this area already, to help in that process.”
The official said the 123 Agreement, the bilateral pact governing civil nuclear cooperation between the two countries, does not prevent Korean firms from participating. Requirements attached to exported technology amount to standard export-control matters rather than a barrier under the agreement itself, the official noted.
The Korean industry is already embedded in several U.S. projects. SK is among the largest investors in TerraPower, which is building a reactor in Wyoming, while Westinghouse is looking to work with Hyundai and other Korean firms. Doosan holds contracts with multiple U.S. developers.
The remarks came as Seoul and Washington struggle to advance negotiations on the joint fact sheet issued after last year's meeting between President Lee Jae Myung and U.S. President Donald Trump. The document covers $150 billion in Korean investment for the U.S. shipbuilding industry and Seoul’s plan to build nuclear-powered attack submarines.
The complexity of the Korea’s civil uranium enrichment and spent fuel reprocessing, alongside a separate dispute involving the U.S.-based e-commerce company Coupang, is widely seen as slowing the talks.
On the possibility for nuclear fuel cycle cooperation, the official said, "I think across the board we have opportunities for collaboration with each country. We respect to the enrichment reprocessing that would have to be covered in additional discussions on 123 agreements."
The official also said Washington encourages cooperation between Korean and U.S. firms in third countries, describing such deals as business-to-business arrangements rather than government-to-government deployments. The U.S. government advocates for its companies in those markets, the official said.
On fuel supply, the official said the U.S. has invested about $3 billion in enrichment capacity, including high-assay low-enriched uranium, which many advanced reactors require. The investment is intended to secure fuel for domestic use and for export, so that reactors sold abroad have a reliable supply, the official said.