Weapons of Mass Destruction (WMD)

Contact persons at KEDO:                                                                                                  Marc Vogelaar     (212) 455-0241
Kenji Nakano        (212) 455-0216

FINANCING FOR LIGHT-WATER REACTOR PROJECT

The Korean Peninsula Energy Development Organization (KEDO) and the Government of the Republic of Korea (ROK) today signed an agreement on the provision of financing for the Light-Water Reactor Project.

The agreement, which is subject to approval of the ROK National Assembly, establishes the modalities related to the ROK’s contribution to the Light-Water Reactor Project. Last year, the ROK committed to provide 70% of the project’s actual cost.

Conclusion of the agreement marks a significant milestone in the Light-Water Reactor Project.

Since August, 1997, KEDO has performed extensive preliminary infrastructure work at its project site in Kumho, Democratic People’s Republic of Korea (DPRK). This work, which involves hundreds of workers, has made very good progress. During the major phase of the project KEDO will significantly increase its work at the site. Through the project, KEDO will supply two light-water reactors to the DPRK.