Korea Hydro & Nuclear Power (KHNP) has entered into a Letter of Intent (LOI) with French company Orano to establish long-term cooperation in the uranium enrichment sector. The agreement was signed at the Elysee palace in the presence of the two Presidents of South Korea and France. The signing represents a further step in the relationship between the two companies and comes after an earlier agreement covering cooperation across the nuclear fuel cycle.
The LOI follows the MoU on global and mutual cooperation in the nuclear fuel cycle that KHNP and Orano signed during France President Emmanuel Macron’s visit to South Korea in April 2026. The latest agreement was concluded with both national leaders present, highlighting the shared interest of South Korea and France in nuclear energy and the nuclear fuel supply chain. It also signals an effort to expand strategic cooperation between the two countries beyond the corporate level.
Expanding Access to Enrichment Sources
Through the LOI, KHNP and Orano are preparing to deepen their ties, with the companies seeking to reinforce their cooperation in the front end of the nuclear fuel cycle. For KHNP, the arrangement is expected to support greater access to new Western enrichment sources while helping the company further diversify its nuclear fuel supply chain. Orano, meanwhile, expects the cooperation to strengthen the foundation supporting its new enrichment projects. The companies’ plans are therefore focused on reinforcing the nuclear fuel supply relationship while advancing their respective objectives in the front end of the nuclear fuel cycle.
KHNP and Orano on Nuclear Fuel Supply Stability
Kim Hoe Chun, the President and CEO of KHNP, said, “Amid growing uncertainty in the global nuclear fuel market, it is critical to proactively secure reliable sources of supply. This LOI will serve as an important opportunity to expand cooperation between the two companies and further strengthen the stability of our nuclear fuel supply.”
Claude Imauven, the Chairman of the Board of Directors of Orano, said, “This cooperation with KHNP represents an important opportunity to further strengthen the relationship between the two companies. We look forward to continuing our cooperation in the front end of the nuclear fuel cycle.”
