S. Korea eyes share in Indian nuclear plant market

By Lee Chi-dong
CHENNAI, India, Jan. 24 (Yonhap) -- South Korean President Lee Myung-bak said
here Sunday his government wants to participate in India's construction of new
nuclear power plants, adding there is great potential for the two nations to
cooperate economically and on the global stage.
At the beginning of a four-day state visit, his first to the South Asian country
as president, Lee said the Comprehensive Economic Partnership Agreement (CEPA)
between Seoul and New Delhi -- essentially a free trade pact -- that took effect
Jan. 1 will help upgrade economic relations and strategic ties on diplomatic and
political affairs.
"Through the implementation of the CEPA, the two countries are expected to
develop their relations beyond economy-trade relations to a higher level in
diplomacy and security, science and technology, (and) social and cultural
sectors," Lee said in an interview with The Times of India, a major Indian daily.

South Korea and India, which has a skilled workforce and is rich in natural
resources, could join hands for green growth as part of efforts to fight climate
change, the president added.
"In particular, I hope South Korea with superb technology will take part in
India's nuclear power plant construction projects," Lee said.
India has 17 operational nuclear reactors and another six are under construction,
according to South Korean officials. Demand for nuclear energy in the nation of
1.1 billion is expected to continue to grow.
South Korea just recently joined the club of nuclear reactor exporters, winning a
US$20 billion contract last month with the United Arab Emirates to construct four
reactors there.
South Korea and India have yet to sign an agreement on the peaceful use of
nuclear energy, a prerequisite for any such joint project.
Lee's aides said the issue will likely be discussed at his summit with Indian
Prime Minister Manmohan Singh to be held in New Delhi on Monday.
The president noted India's fast-developing economy and growing political
influence in the international community.
India has recorded an average of eight percent economic growth over the last five
years. Two-way trade volume between South Korea and India has also jumped from
US$2.1 billion in 1999 to $15.6 billion in 2008.
Lee said the South Korea-India CEPA will "make big contributions to the active
development of the two nations' economies and help bolster economic and trade
ties between Northeast Asia and South Asia."
He added the two countries can create synergy effects via closer cooperation in
the information and technology field, taking advantage of South Korea's hardware
manufacturing technology and India's advanced software industry.
lcd@yna.co.kr
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