Consistent with the deep and longstanding relationship between the United States and the Republic of Korea, the two countries reached a significant outcome on November 1, advancing their cooperation on civil nuclear energy by initialing a Memorandum of Understanding (MOU) on Principles Concerning Nuclear Exports and Cooperation. The United States and the Republic of Korea reaffirmed their mutual commitment to promoting the expansion of peaceful nuclear energy while upholding the highest standards of nonproliferation, safety, safeguards, and security.

Toward this end, the parties strengthened their administration of export controls on civil nuclear technology. These further commitments will provide a springboard for the expansion of our bilateral work in combatting climate change, accelerating global energy transitions, and assuring critical supply chains while creating billions of dollars worth of new economic opportunities and the creation or maintenance of tens of thousands of manufacturing jobs for both industries.

The MOU will proceed to final review in both countries' capitals.