이 기사는 2021년 05월 26일 07:22 thebell 에 표출된 기사입니다.

Doosan Heavy Industries & Construction appears well positioned to benefit from cooperation between the US and South Korea in the nuclear power industry, possibly ending years of struggle under the government’s anti-nuclear power policies.

US President Joe Biden and South Korean President Moon Jae-in on Friday released a joint statement that said they “commit to develop cooperation in overseas nuclear markets, including joint participation in nuclear power plant projects, while ensuring the highest standards of international nuclear safety, security, and nonproliferation are maintained.”

The announcement represents a deviation from Moon’s anti-nuclear policies. Under his presidency, the Wolseong 1 reactor was shut down earlier than scheduled, plans for the Shin Hanwool 3 and 4 reactors were scrapped, and the extension of nuclear reactor lifetimes was prohibited.

Doosan Heavy received trillions of won in financial support from the state-controlled Korea Development Bank after reporting large losses in 2020 due to worsening business conditions. However, a sea change, whih is likely to happen after Friday's announcement, could give a great opportunity for a turnaround to Doosan Heavy, which is the only South Korean company that makes nuclear plant equipment.

The partnership between the US and South Korea is expected to generate significant synergies, industry watchers said. “The US companies have original technologies in the field of nuclear power plant designs and South Korea has strength in the field of construction and equipment,” an industry insider said.

Doosan Heavy Industries in 2008 signed a contract with Westinghouse to supply major nuclear equipment for AP1000 reactors, designed by the US firm, at plants in China. The contract is expected to expire next year, with the project 99.93% completed as of the end of 2020.

The two nations are also expected to work together to develop advanced small modular reactors (SMR), which have become a new battlefield of competition between countries. Last year, Doosan Heavy and other South Korean investors invested $44 million in US-based NuScale, which is the first company that received SMR design approval from the US Nuclear Regulatory Commission.

Doosan Heavy has turned its eyes to overseas markets in order to overcome domestic hardship, working together with Korea Electric Power Corporation (KEPCO), KEPCO Engineering & Construction Company and Korea Hydro & Nuclear Power to win contracts. In 2019, Doosan Heavy was awarded a contract to provide a five-year maintenance service for the Barakah plant in the United Arab Emirates. (Reporting by Sang-hee Park)