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Briefings KEPCO-KHNP legal clash exposes cracks in South Korea’s nuclear export unityArbitration over the Barakah plant reveals governance failures and threatens Seoul’s “One Team” credibility abroad South Korea’s two state-run energy firms, Korea Electric Power Corp. (KEPCO) and Korea Hydro & Nuclear Power (KHNP), are locked in a costly legal dispute over final settlement payments for the Barakah nuclear power plant project in the United Arab Emirates. KHNP filed for arbitrationwith the London Court of International Arbitration in May, seeking about $1 billion in additional compensation for delays and extra work orders it says were caused by KEPCO and the UAE client, Emirates Nuclear Energy Corporation. The Barakah project, awarded in 2009 and completed last year, was South Korea’s first overseas nuclear power export and © Korea Risk Group. All rights reserved. |





