KHNP and France's Orano Expand Nuclear Fuel Supply Chain Cooperation

On September 8, Korea Hydro & Nuclear Power (KHNP) and France's Orano SA (Orano) signed a letter of intent for long-term cooperation in uranium enrichment at the Élysée Palace in Paris. The signing ceremony was witnessed by the leaders of both South Korea and France.

This letter of intent represents a further extension of the existing cooperation between the two parties. In April this year, during French President Emmanuel Macron's visit to South Korea, KHNP and Orano had signed a memorandum of understanding on global, mutually beneficial cooperation in the nuclear fuel cycle sector.

Under the letter of intent, the two parties plan to deepen cooperation in the front-end of the nuclear fuel cycle. KHNP seeks to expand its access to new Western uranium enrichment capacity and diversify its nuclear fuel supply chain, while Orano aims to solidify the cooperation foundation for its new enrichment projects.

The President and CEO of KHNP stated that amid rising uncertainty in the global nuclear fuel market, securing reliable supply sources in advance is of critical importance. This letter of intent will provide an opportunity for both parties to expand cooperation and enhance the stability of nuclear fuel supply.

Claude Imauven, Chairman of the Board of Orano, stated that cooperation with KHNP will help further strengthen the relationship between the two parties, and Orano looks forward to continuing collaboration in the front-end of the nuclear fuel cycle.

KHNP currently holds a 2.5% stake in the Georges Besse II uranium enrichment plant in France. Orano is primarily engaged in nuclear material-related businesses, providing customers with products and services covering the nuclear fuel cycle.