According to the agreement on atomic energy, Kazakhstan will supply uranium to South Korea, Kazakhstani President Nursultan Nazarbayev declared at a press conference after negotiations with his South Korean counterpart Roh Moo-hyun. The Korea-Kazakhstan agreement on nuclear power is valid for 10 years and can be extended by five years if necessary, the officials said. South Korea has signed similar agreements with 20 countries.
The Korea Resources Corp. signed an MOU with Kazakhstan’s state-run uranium development corporation, KazAtomProm, for joint development of uranium mines in the southern Kazakhstan region of Budennovsk. Kazatomprom produced 2,952.4 tonnes of uranium in 2003, against 2,726.5 tonnes in 2002.Kazakhstan will deliver the uranium ore over the next 30 years, the South Korean Yonhap news agency said. South Korea and Kazakhstan, according to the agency, will jointly develop uranium mines in southern Kazakhstan to secure the supply. The uranium will be used at South Korean nuclear power stations, which generate 40% of electricity in the country.
With the Agreement on the Peaceful Use of Atomic Energy, South Korea can now advance into Kazakhstan in the fields of nuclear reactors, nuclear hospitals and nuclear fusion, government officials said to Interfax. “Kazakhstan hopes to build a foundation for nuclear power development by getting assistance from South Korea, which is equipped with necessary technologies,” said presidential foreign policy adviser Chung Woo-seong, Korea.net reported.