South Korea to review Westinghouse nuclear power deal

[Model of atom and elementary particles. Physics concept. 3D rendered illustration.]
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South Korea's government will review [https://www.bloomberg.com/news/articles/2025-08-19/south-korea-orders-review-on-westinghouse-nuclear-power-deal] an agreement with Westinghouse Electric to resolve a nuclear power intellectual property dispute, Bloomberg reported Tuesday, after local media reported the deal's potentially unfavorable terms.

State-owned Korea Hydro & Nuclear Power reportedly agreed to pay $825M to Westinghouse every time it exports a nuclear reactor, for the purchase of services and goods and the use of technology, and South Korea's Ministry of Trade, Industry and Energy was instructed to review the deal to verify that the negotiations and contract signing were carried out in accordance with national principles and procedures.

South Korea is seeking to become a major nuclear equipment exporter as governments around the world turn to the technology to curb dependence on fossil fuels, and reopening the dispute with Westinghouse could threaten the effort, Bloomberg said.

Westinghouse is owned 51% by Brookfield Renewable Partners (NYSE:BEP [https://seekingalpha.com/symbol/BEP]) and 49% by uranium miner Cameco (NYSE:CCJ [https://seekingalpha.com/symbol/CCJ]).

MORE ON CAMECO AND BROOKFIELD RENEWABLE PARTNERS

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