South Korea and Turkey Sign Nuclear Power Deal

14 June 2010 (Last Updated June 14th, 2010 18:30)

South Korea and Turkey have signed an accord to cooperate in nuclear energy, raising the hopes of Korean companies that are chasing a deal to build an atomic power plant on the Turkish coast. President Lee Myung-Bak and his Turkish counterpart Abdullah Gul agreed to expand "substantial

South Korea and Turkey have signed an accord to cooperate in nuclear energy, raising the hopes of Korean companies that are chasing a deal to build an atomic power plant on the Turkish coast.

President Lee Myung-Bak and his Turkish counterpart Abdullah Gul agreed to expand “substantial cooperation in various fields” such as trade, investment, energy, construction and the defence industry, reports AFP.

The leaders also attended a ceremony at which their energy ministers signed the memorandum of understanding (MoU) on nuclear cooperation.

State firms from the two countries forged a preliminary deal in March to build a nuclear power plant at Sinop on Turkey’s Black Sea coast.

However, Turkey’s Energy Minister Taner Yildiz has said the government remains open to proposals from other companies if they offer better terms.

KEPCO and Turkey’s state-owned Electricity Generation have begun detailed studies for the plant at Sinop, Turkey.