S. Korea, Vietnam agree to advance energy cooperation including nuclear power
Leaders discuss potential revival of Vietnam's nuclear power program during Hanoi summit
Quick Look
- South Korean President Lee Jae Myung and Vietnam's General Secretary To Lam agreed to advance cooperation in energy and infrastructure during summit talks in Hanoi, including Vietnam's potential revival of its nuclear power program.
- Vietnam shelved its Ninh Thuan nuclear plant plan in 2016 due to financing constraints but is now considering adding nuclear power to meet growing electricity demand.
- Korea Electric Power Corporation signed MOUs with Vietnam National Industry-Energy Group on joint feasibility studies for nuclear projects.
AI-generated summary
Why It Matters
Vietnam abandoned its first nuclear power plant plan in Ninh Thuan in 2016 due to financing constraints amid low oil prices. The country is now reconsidering nuclear power to address growing electricity demand and energy security concerns as its economy expands.
President Lee Jae Myung and Vietnam's top leader To Lam agreed to advance cooperation in energy and infrastructure during summit talks, including Vietnam's possible revival of its nuclear power program, Seoul's top security official said Thursday.
In Wednesday's talks, Lam, who serves as general secretary of the Communist Party, "welcomed" Korean companies' participation in Vietnam's energy transition, including the potential construction of a nuclear power plant, National Security Adviser Wi Sung-lac told reporters.
Vietnam had previously shelved its plan in 2016 to build its first nuclear power plant in the southeastern province of Ninh Thuan due to financing constraints, but is now considering adding nuclear power to its energy grid to meet growing electricity demand.
Asked whether the summit addressed the Ninh Thuan project, Wi said, "Discussions remain at an early stage, focusing on the feasibility and related risks."
On the sidelines of the summit, the state-run Korea Electric Power Corporation and Vietnam National Industry-Energy Group signed two memorandums of understanding on joint feasibility studies and financing for potential nuclear power development projects.
Critical mineral supply chains were also identified as an area of cooperation, Wi said, noting Seoul and Hanoi will broaden the scope of cooperation by establishing a technology cooperation center for critical mineral supply chains.
Lee and Lam also exchanged views on regional security and global issues, including the ongoing conflict between the United States and Iran, according to the official.
"The two leaders agreed to bolster joint efforts for peace and prosperity in the international community," Wi said. "They also shared the understanding that peaceful coexistence on the Korean Peninsula serves the interests of the international community."
What to Watch
AI outlook — possibilities, not facts
Vietnam will likely proceed with detailed feasibility studies for nuclear power development in the next 6-12 months
Likely · Within months
Additional Memorandums of Understanding with other nuclear technology providers likely
Possible · Within months
Open Questions
- What is the specific timeline for the nuclear power feasibility studies?
- What are the estimated costs for reviving the Ninh Thuan project?
- How will Vietnam address public concerns about nuclear safety?
- What other countries is Vietnam considering for nuclear cooperation?
