South Korea: US Industry Ties Pick-Up Despite IP Standoff

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Young Ho/Sipa USA via AP

South Korean President Yoon Suk-yeol's state visit to Washington this week saw a huge number of industrial tie-ups, including between key Korean nuclear firms and US companies focused on small modular reactors (SMRs), advanced reactors and nuclear fuel. But despite careful diplomatic language in a joint presidential statement, there appeared to be no breakthrough on the standoff between US-based Westinghouse and Korea's top nuclear firms, Korea Electric Power Co. (Kepco) and subsidiary Korea Hydro & Nuclear Power (KHNP), over intellectual property (IP) and export controls for Korea's large conventional reactors.

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