With the market demand signal for new nuclear builds resulting from COP28 nuclear pledges, the global nuclear market is preparing for a significant capacity demand for new nuclear export projects. Currently, Russia dominates the global nuclear export business, and China is expected to follow closely given their rapid domestic capacity expansion and supply chain efforts. The US has been losing its nuclear leadership along with its nuclear project construction capabilities, and this will have significant geopolitical implications as well as implications in nuclear safety. South Korea can be a critical nuclear collaboration partner with the US in regards to nuclear exports given South Korea’s nuclear industry capabilities. The combined efforts of the two nations under a new cooperation model, aka “Team Nuclear KORUS” may be an opportunity for both nations to cooperate to achieve global nuclear export goals.
