Negotiations over a Westinghouse and Korea Hydro & Nuclear Power joint venture were set back during a US-South Korea summit this week.
Westinghouse and Korea Hydro & Nuclear Power (KHNP) have been in talks on some type of major cooperation agreement for months, but progress ground to a halt during this week's bilateral summit in Washington.
Energy Intelligence understands that South Korean President Lee Jae Myung wanted to hold off on any major industry commitments in hopes of securing a better deal for KHNP.
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Besides LNG trade, battery production and shipbuilding are emerging as core areas of cooperation between the Indo-Pacific allies.
President Lee Jae Myung said US also supports Seoul's greater role in 'uranium enrichment and spent-fuel reprocessing'.
The agreement comes amid a period of growing geopolitical tensions on the Korean Peninsula.
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