Kazatomprom signs memorandum with KORES and KEPCO

This Memorandum was signed by Mr. Vladimir Shkolnik, Kazatomprom Chairman of the Board, Mr. Kim Shin Jong, KORES President and CEO, and Mr. Kim Ssang-Soo, KEPCO President and CEO. The document lays ground for mutually beneficial cooperation between the parties in peaceful use of atomic energy and further development of the nuclear power industry in both nations.
In addition Kazatomprom and KORES signed a MoU on cooperation in joint research, mineral exploration and mining operations in Kazakhstan.
According to the World Nuclear Association (WNA), nuclear industry is essential to the Republic of Korea, since it provides about 28% of the total power supply in the country. South Korea has 20 operating nuclear reactors with 3 more under construction. In terms of capacity South Korea is the fifth largest uranium market in the world. Kazakhstan has been supplying uranium to South Korea since 2005, covering nearly a quarter of fuel demand by South Korean NPPs.
Kazatomprom is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 26,000 employees and is amongst the leading uranium production companies in the world.