Saudi energy minister visits South Korea’s Atomic Energy Research Institute

Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih, center, with Saudi and Korean engineers at the Korea Atomic Energy Research Institute (KAERI) in Seoul on Saturday. (SPA)
Updated 05 May 2018

Saudi energy minister visits South Korea’s Atomic Energy Research Institute

  • Last year, KSA and South Korea entered into a joint venture to prepare engineering designs for the reactor with training programs in a range of nuclear energy fields, including reactor design.
  • 48 Saudi engineers are currently in Daejeon, South Korea to help develop an advance reactor technology for the Kingdom.

JEDDAH: Saudi Arabia’s energy minister, Khalid Al-Falih, visited South Korea’s Atomic Energy Research Institute on Saturday as part of a three-day visit to the country.

Al-Falih met 48 Saudi engineers from King Abdullah City for Atomic and Renewable Energy (KACARE), who are in Daejeon in South Korea to help develop the System-integrated Modular Advanced Reactor Technology (SMART) project.

KACARE entered into a joint venture with the Korea Atomic Energy Research Institute (KAERI) to prepare engineering designs for the reactor with training programs in a range of nuclear energy fields, including reactor design.

Al-Falih also toured the KAERI Institute, visiting the testing center, and the reactor’s control and simulator room.

The reactor scheme is part of a Saudi national atomic energy project approved by the Cabinet last year to develop compact nuclear reactors so that the Kingdom can diversify the energy sources in line with Vision 2030.

KACARE and the Korea Atomic Energy Research Institute signed a pre-project engineering agreement in September 2015 that will remain in effect until November 2018.

Earlier, Al-Falih met South Korean President Moon Jae-in and Minister of Trade, Industry and Energy, Paik Un-gyu, to expand bilateral cooperation in energy and other key sectors.

Al-Falih said the Kingdom hoped to jointly develop small or medium-sized reactors with South Korea. It was also willing to invest in the joint development of electric and other future-oriented vehicles.

Saudi Arabia has received requests for information from five countries — South Korea, China, US, France and Russia — to build two nuclear reactors.

If South Korea wins the bid, it will be their second nuclear export deal in the Middle East. In 2009, a consortium led by state-run utility Korea Electric Power Corp. secured its first nuclear exports deal, a $20 billion contract with the UAE.


Saudi Arabia confirms $150 million donation to Gavi, the Vaccine Alliance

Updated 1 min 17 sec ago

Saudi Arabia confirms $150 million donation to Gavi, the Vaccine Alliance

  • The Kingdom announced in March that it would contribute $500 million to international efforts to fight the virus
  • Of that amount, $150 million would be allocated to Gavi, the Kingdom’s foreign minister confirmed on Thursday

RIYADH: Saudi Arabia confirmed on Thursday a $150 million donation to Gavi, the Vaccine Alliance, to help international efforts to fight the ongoing coronavirus (COVID-19) pandemic.
The Kingdom announced in March that it would contribute $500 million to international efforts to fight the virus during an extraordinary virtual G20 summit on coronavirus that it chaired.
Of that amount, $150 million would be allocated to Gavi, the Kingdom’s foreign minister confirmed on Thursday during a vaccine summit hosted by Britain.
“Of this amount, I am pleased to announce the allocation of $150 million to Gavi which will support the great efforts of the alliance,” Prince Faisal bin Farhan said.
The British government is hosting a vaccine summit on Thursday and is hoping to raise billions of dollars to immunize children in developing countries. Participants will also discuss how any potential vaccine against the new coronavirus might be distributed globally and fairly.