South Korea is seeking the order for Unit 2 of Vietnam’s Ninh Thuan nuclear power plant, with the order value estimated at KRW 15 trillion–18 trillion. The government has indicated that it plans to advance cooperation on technology and financing.
According to South Korean media reports, South Korea is seeking the contract for the Vietnam Ninh Thuan Nuclear Power Plant Unit 2 project, which is estimated to be worth approximately KRW 15 trillion–18 trillion. The government and industry are reportedly working together to maximize the opportunity to win the contract.
South Korea’s Minister of Trade, Industry and Energy, Kim Jeong-gwan (金正官), met in Seoul with Vietnam’s Minister of Science and Technology Vu Hai Quang to discuss a broad range of cooperation measures in advanced industrial fields, including nuclear power. Minister Vu Hai Quang oversees nuclear research and development, human resources development and safety regulation in Vietnam.
At the meeting, Minister Kim said that a stable supply of large volumes of electricity around the clock would be essential for Vietnam to achieve its transformation into a high-income country by 2045 and advance its industrial development. He cited the Barakah nuclear power plant in the UAE and the Dukovany nuclear power plant project in the Czech Republic as examples of past orders won, and discussed technology exchanges and human resources development.
The Ninh Thuan nuclear power project envisions the construction of a large-scale nuclear power plant with total capacity of 4–6.4 GW. Russia has already won the contract for Unit 1, which is targeted to begin operations in 2030. South Korea has set 2035 as the target for Unit 2 to begin operations and says it will continue providing government-level support.