{"id":2202910,"date":"2023-11-30T08:00:51","date_gmt":"2023-11-29T23:00:51","guid":{"rendered":"https:\/\/koreapro.org\/?p=2202910"},"modified":"2023-11-29T17:42:34","modified_gmt":"2023-11-29T08:42:34","slug":"korean-and-canadian-energy-firms-ink-nuclear-deal-to-aid-in-carbon-neutrality","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/11\/korean-and-canadian-energy-firms-ink-nuclear-deal-to-aid-in-carbon-neutrality\/","title":{"rendered":"Korean and Canadian energy firms ink nuclear deal to aid in carbon neutrality"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Korea Hydro &amp; Nuclear Power (KHNP) <\/span><a href=\"https:\/\/www.arc-cleantech.com\/MOU-ARC-KHNP-NBP\"><span style=\"font-weight: 400;\">signed a Memorandum of Understanding<\/span><\/a><span style=\"font-weight: 400;\"> (MOU) on Nov. 29 with Canadian companies ARC Clean Technology and New Brunswick Power to explore collaboration opportunities for the commercialization of ARC\u2019s advanced small modular reactor (SMR) technology in South Korea, Canada, the U.S. and other jurisdictions where KHNP has business operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The partnership will focus on the ARC-100 project, a 100 MW Sodium-cooled Fast Reactor (SFR), at New Brunswick Power\u2019s Point Lepreau site. This initiative, expected to be Canada\u2019s first SMR connected to the power grid, aligns with New Brunswick Power\u2019s goal of phasing out coal by 2030 and achieving carbon neutrality by 2035.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The MOU signed between KHNP, ARC Clean Technology and New Brunswick Power will likely boost South Korea\u2019s move toward diversifying and modernizing its nuclear energy capabilities. South Korea, which operates 25 reactors to meet around 30% of its domestic energy needs, will likely use this partnership to position itself at the forefront of adopting next-generation nuclear technologies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If successful, the move will also help South Korea reduce its reliance on fossil fuels and move toward cleaner energy sources, which will, in turn, help other South Korean industries that currently rely on carbon-based energy, such as the steel industry, to align with international trade regimes, such as Europe\u2019s <\/span><a href=\"https:\/\/koreapro.org\/2023\/07\/south-korea-struggles-to-adapt-to-europes-new-emission-rules\/\"><span style=\"font-weight: 400;\">Carbon Border Adjustment Mechanism<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/technology-cyber\/\"><span class=\"tag\">Technology &amp; Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>Korea Hydro &amp; Nuclear Power (KHNP) signed a Memorandum of Understanding (MOU) on Nov. 29 with Canadian companies ARC Clean Technology and New Brunswick Power to explore collaboration opportunities for the commercialization of ARC\u2019s advanced small modular reactor (SMR) technology in South Korea, Canada, the U.S. and other jurisdictions where KHNP has business operations. The [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2202911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28,29],"class_list":["post-2202910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations","tag-technology-cyber"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Korean and Canadian energy firms ink nuclear deal to aid in carbon neutrality - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/11\/korean-and-canadian-energy-firms-ink-nuclear-deal-to-aid-in-carbon-neutrality\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Korean and Canadian energy firms ink nuclear deal to aid in carbon neutrality - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"Korea Hydro &amp; Nuclear Power (KHNP) signed a Memorandum of Understanding (MOU) on Nov. 29 with Canadian companies ARC Clean Technology and New Brunswick Power to explore collaboration opportunities for the commercialization of ARC\u2019s advanced small modular reactor (SMR) technology in South Korea, Canada, the U.S. and other jurisdictions where KHNP has business operations. 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