Seoul, Korea, Oct. 24, 2016
– Today, Westinghouse Electric Company and Korea Hydro & Nuclear Power Co. Ltd. signed a memorandum of understanding (MOU) to form a technological exchange committee to promote a discussion and exchange of engineering capabilities between both organizations. The bilateral MOU will fully engage the partners’ capabilities in nuclear engineering and services through periodic meetings, technological exchanges and business developments.
“Korea’s KHNP, a leader in the Korean nuclear industry, has extensive operating experience,” said David Howell, senior vice president, Operating Plant Business. “Their international capabilities align seamlessly with Westinghouse’s original equipment manufacturer (OEM) global position. Together, we will partner to examine cooperative technical discussions and to develop joint business opportunities in the U.S. and other markets.”
The MOU will leverage both partners’ strengths, including Westinghouse’s position in the PWR market and CE fleet operation, and KHNP’s strong resources and technology presence. The partners expect to find areas of collaboration in engineering and technology development while enforcing safety, resolving current technical issues, promoting technical improvements and expanding business markets.