South Africa, South Korea sign nuclear agreement

The Korea Times reports that Friday the two countries “ signed an agreement on the peaceful use of nuclear energy” which is necessary to comply with international non-proliferation agreements.    The report goes on to elaborate that:

Currently, South Africa’s nuclear energy accounts for about 5 percent of its entire electricity supply.

The African state plans to increase the nuclear portion to 25 percent by 2025.

In a speech in Johannesburg in September, Minister Peters was quoted as saying that it would be more cost-effective for South Africa to consider a series of nuclear power plants.

Upon taking office in February, 2008, President Lee Myung-bak declared nuclear energy as the country’s new engine of growth.

Experts noted the economic effect of nuclear energy exports is enormous, explaining winning a contract to build two nuclear reactors in a foreign nation has the same economic effect of exporting 320,000 automobiles.”

It seems both countries will be focusing on intense development of nuclear power generating capacity. It is a logical policy for any country lacking large amounts of fossil fuel reserves.

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