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Korea clinches $880m deal to operate UAE nuclear reactors

26 Jul 2016
Korea’s state-run energy firm has won a deal with United Arab Emirates (UAE) to operate four nuclear reactors currently under construction in the Middle East. 

The project was first launched in 2012 and the construction of the first nuclear power plant is scheduled for completion in May 2017. 

UAE ENEC plans to cover all costs, including living expenses for all employees. According to the press release, each employee will receive on average 300 million won in yearly wages. 

Officials believe this agreement will greatly assist South Korea with winning more potential nuclear-reactor construction deals from the UAE. 

“Globally, too, it's rare that a country has foreigners in charge of operating its nuclear reactors. South Korea's relationship with the Middle East has evolved around the construction sector since the 1970s, but a new era seems to be dawning now," said Korea Hydro and Nuclear Power president, Cho Seok. 

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