DTN News: South Korea Aims To Export 80 Nuclear Reactors By 2030

DTN News: South Korea Aims To Export 80 Nuclear Reactors By 2030 *Source: DTN News / Int'l Media (NSI News Source Info) SEOUL, South Korea - January 13, 2010: South Korea said on Wednesday it aimed to export 80 nuclear reactors by 2030 to hold a 20 percent share of the global market, shortly after winning a landmark $40 billion nuclear power deal in the Middle East.Nuclear Reactor ~ Tightly sealed area where fission of the fuel is carried out in a controlled manner to release heat. Nuclear Generating Station ~ Plant that produces electricity from thermal energy generated by the fission of fuel atoms in a reactor.

The government and private entities will invest a total of 400 billion won ($355.7 million) in research and development between 2011 and 2017 to improve domestic nuclear reactor technology, the government said in a statement. Asia's fourth-largest economy also plans to acquire stakes of overseas mines to raise its self-development rates of raw materials for nuclear power, including uranium, to 25 percent by 2016 and 50 percent by 2030 from 6.7 percent this year, the statement said. A South Korean consortium won the Middle East's biggest ever energy contract to build and operate four nuclear reactors for the United Arab Emirates, beating more favoured US and French rivals.