U.S. energy company head in S. Korea to discuss nuclear reactors

SEOUL, Jan. 6 (Yonhap) -- The chief of a U.S. energy company is in South Korea
this week on a fact-finding mission to discuss possible cooperative tie-ups in
the nuclear reactor sector, a government source said Wednesday.

The source in the Ministry of Knowledge Economy said Don Gillispie, president of
Alternate Energy Holdings Inc. (AEHI), wanted to meet with South Korean officials
and representatives of the state-run Korea Electric Power Corp. (KEPCO).
"AEHI asked to meet with us to exchange views on nuclear reactors, but the
meeting must not be seen as a concrete step that could lead to another export
deal for South Korean nuclear reactors," the official stressed, without going
into details.
"The businessman and the company wanted to know some of the details about the
Korean reactor," he added, toning down media reports that Gillispie may try to
finalize a deal to buy the APR-1400 reactors for use in the United States.
He pointed out that there has been no prior discussion between the ministry and
AEHI, although some preliminary talks have been carried out with KEPCO, which is
in overall charge of the country's nuclear energy field.
Others in the ministry said there is no proof that AEHI has the resources to
build nuclear reactors, since the aggregate value of its stocks currently stand
at around US$10 million.
Earlier media reports claimed that AEHI, which wants to build reactors in
Colorado and Idaho, may be interested in buying the same South Korea-designed
reactors that are to be built in the United Arab Emirates (UAE).
South Korea signed a $20 billion deal late last month to build four APR-1400
reactors for the UAE. The sale marks the first time that Seoul has exported
nuclear reactors after having started its commercial atomic energy program in the
1970s.
yonngong@yna.co.kr
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