President Moon to use Middle East trip to expand business opportunities (
President Moon to use Middle East trip to expand business opportunities (. Image Source: IANS News

Seoul, Jan 19 : The South Korean government has completed preparations for Saudi Arabia to resume its procedure for a nuclear power project, a Seoul minister said on Wednesday.

Moon Sung-wook, South Korea's minister of trade, industry and energy, told reporters that "no visible progress" has been made in Saudi Arabia's nuclear power project since the kingdom selected five countries -- South Korea, the US, France, Russia and China -- as preferred bidders in 2018, Yonhap news agency reported.

The industry minister, who is accompanying President Moon Jae-in on his weeklong trip to the Middle East, said South Korea has emphasised its technology on nuclear plants "in preparation for the Saudi nuclear power project to be proceeded at any time." President Moon Jae-in held talks with Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman on Tuesday.

During the talks, Moon expressed his confidence that South Korea will become an "optimal partner" for Saudi Arabia's plans to build nuclear power plants, according to Moon's spokesperson Park Kyung-mee.

Oil-rich Saudi Arabia has planned to build two nuclear reactors by 2030.

If won, it will be the second chance for South Korea to tap into the Middle East market following a $20 billion contract with the UAE in 2009.

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