The South Korean government is considering acquiring shares in US nuclear energy company Westinghouse, under a nuclear power framework to be agreed upon with the US, media outlets reported.
The administration is exploring an acquisition of common shares with voting rights and is currently discussing the size of the purchase, a government official told the Korean daily Hankyoreh on Wednesday.
Subject to the terms of the deal, the transaction could give the country a stronger position over intellectual property and greater access to the US nuclear market, The Korea Times reported Thursday, citing government sources.
In January 2025, Korea Hydro & Nuclear Power and Korea Electric Power settled their dispute with Westinghouse concerning the possible use of US technology in Korea's APR1400 reactor design.
The three companies are now set to sign a nuclear collaboration agreement, which includes the reported share acquisition plan.
Global investment firm Brookfield (BN) currently holds a 51% interest in Westinghouse, while Canadian uranium producer Cameco (CCJ) owns the remaining 49%.
The deal is seen to benefit South Korea if it guarantees board seats, veto rights, IP licensing rights, and clear terms for profit sharing and loss allocation, according to Nuclear Safety and Future head Lee Jeong-yoon, as cited by The Korea Times.
However, Jeong-yoon reportedly said there is also a risk of South Korea absorbing cost overruns and construction delays, while other shareholders recover their investments.
The country is also investing in the construction of eight nuclear reactors in the US.
Westinghouse, the US Trade Representative, and the South Korean trade ministry did not immediately respond to' requests for comment.
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