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Nuclear Energy Cooperation Between India and Korea

Vital Energy Alternatives Driving Growth
Monday, September 17th, 2012

Recent research has pointed out that the need for energy in Asian countries will result in energy concerns the world over. The increasing energy demand is due to the phenomenal growth rates of the Asian countries in the last few decades that will continue into the next decade of this cen- tury as well.

Researchers predict that by 2020 the overall global consumption of energy will triple and will be led by Asian countries such as India, China and several members of the ASEAN bloc.

A recent example of the role South Ko- rea expects to play in the nuclear energy sector was exemplified by the recently concluded Nuclear Security Summit in March, with most nuclear member coun- tries, including President Obama, arriving for the summit.

Both India and South Korea have reiter- ated several times that the nuclear securi- ty issues are very important to both coun- tries and whatever the provocation from neighboring nuclear-enabled states, both would strive to maintain peace and con- tinue to establish balance with the region. South Korea has developed great nucle- ar technology expertise which will prove to be a new sector of growth and coopera- tion between India and South Korea. In the light of the continued threat of North Korea’s latest ‘nuclear launcher’ technology, South Korea and India have expressed their support to maintain peace. South Korea has complied with the Nu- clear Nonproliferation Treaty and contin- ues to advocate the use of nuclear energy for peaceful purposes such as the produc- tion of energy, while continually looking to meet its energy demand requirements with alternative energy generation op- tions.

India and South Korea have already reached a Nuclear Energy Agreement last year that allows India immediate access to South Korean companies to tap the enor- mous nuclear energy sector, especially in the construction of new nuclear power plants.

As per the agreement, South Korean companies now have the legal jurisdiction to invest and participate in India’s atomic power plant projects.

Presently, India already has twenty nuclear reactors in place for generating energy. There are six more reactors under construction and if the government’s gran- diose plans are to be considered, another forty nuclear power plants are expected to be commissioned in a phased manner in the next twenty years.

The Indian nuclear power generation market is indeed very competitive and there are several global companies from France, Russia and Britain vying for mar- ket penetration.

However, considering India and South Korea’s mutual Comprehensive Economic Partnership Agreement (CEPA), as well as South Korea’s already established exper- tise at successful installation of twenty nuclear plants to generate nearly 35 per- cent of the electricity demand in South Korea, India is already more aligned with South Korea for transfer of technology and further cooperation in building success en- ergy generation facilities through nuclear technology.

Additionally, South Korea has a prov- en track record in the commissioning of nuclear reactors for power generation in global projects in the Middle East as well as in Japan.

India’s energy demands are likely to be met successfully due to the immense growth in nuclear power plant operation. With South Korean nuclear technology knowledge, it is fully expected that India will meet its nuclear power generation needs of the future.

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