SEOUL, June 16 (UPI) -- South Korea is increasing its involvement with Turkish nuclear energy projects.
Turkey, which is expected to award a $10 billion nuclear power contract later in the year, is considering South Korean involvement after Seoul signed a memorandum of understanding with Turkey to cooperate on nuclear power projects, the Joongang news agency reported Wednesday.
The contract involves Turkey's second projected nuclear power plant at Sinop on the country's northern Black Sea coast. Turkey's first nuclear power plant is to be constructed at Akkuyu near the country's Mediterranean shore.
South Korea's Knowledge Economy Minister Choi Kyung-hwan and Turkey's Energy Minister Taner Yildiz signed a memorandum of understanding for the construction of Sinop nuclear power plant.
The MOU follows a March agreement signed by Korea Electric Power Corporation and Turkey's state-owned Electricity Generation to conduct technical studies for the construction of the Sinop facility.
South Korean Vice Knowledge Economy Minister Kim Young-hak said: "The Turkish government has confirmed through the MOU the high possibility of the deal being given to Korea. The MOU calls for an agreement on the deal's commercial aspects by this fall."