Korea Hydro & Nuclear Power Co. is exploring a joint venture with Westinghouse Electric Co. to penetrate the American nuclear market, according to political sources cited by Korean media outlets. The discussions come as President Donald Trump pushes to quadruple US nuclear capacity to 400 gigawatts by 2050.
The potential partnership may feature prominently when South Korean President Lee Jae-myung meets Trump at their Aug. 25 summit in Washington, where nuclear cooperation is expected on the agenda. Industry observers suggest the collaboration could mirror the “Make America Shipbuilding Great Again” initiative that helped South Korea secure tariff relief in July.
KHNP’s nuclear ambitions gained momentum after settling a contentious intellectual property dispute with Westinghouse in January. The resolution cleared the path for the Korean state-owned company to finalize a ₩26 trillion ($18.6 billion) contract to build two reactors in the Czech Republic.
However, the settlement terms have drawn sharp criticism from South Korean lawmakers. The agreement reportedly requires Korean companies to pay $650 million per reactor in contracts and $175 million in licensing fees, while restricting KHNP’s global market access for 50 years.
The partnership makes strategic sense for both sides. Westinghouse possesses advanced reactor designs but lacks construction capabilities after years of limited domestic building activity. Meanwhile, KHNP stands among only two companies globally—alongside France’s EDF—capable of overseeing the complete nuclear plant lifecycle from design to maintenance.
Trump’s nuclear renaissance plans call for constructing approximately 300 new reactors, creating substantial opportunities for international partners. The administration has streamlined licensing processes and invoked the Defense Production Act to accelerate domestic nuclear fuel production.
For KHNP, accessing the US market could help offset the financial burden of its Westinghouse settlement. Yet critics question whether the Korean company surrendered too much to secure its Czech victory, potentially hampering future competitiveness in the global nuclear arena.
