Westinghouse objections stall Korea-US nuclear package

Seoul Economic Daily and The Korea Herald reported September 17 that a Korea-US memorandum of understanding expected the next day slipped after Westinghouse objected to the size of a Korean equity stake, and The Korea Times reported September 20 that President Lee Jae Myung said commercial-viability terms were still not acceptable. The package under discussion included eight US reactors, six Westinghouse AP1000s and two Korean APR1400s, plus a Westinghouse share purchase; Seoul has sought roughly 15 to 20 percent with a board seat, while Westinghouse wants to keep the holding below 10 percent, the threshold for nominating a director. South Korea's Industry Ministry postponed its National Assembly briefing and said talks continue.