Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 22-Oct-2013

An agreement to cooperate in nuclear energy sector is signed by Korea with Hungary.

Foreign Minister Yun Byung-se made the agreement with his Hungarian counterpart Janos Martonyi in Seoul on October 18.

Two months after the two countries reached an agreement on the final draft in August the agreement was signed. Hungary is the 28th country to sign such an agreement with South Korea.

The agreement, which will be in force for 40 years, is slated to take effect 30 days after the two sides exchange documents informing each other that their domestic procedures required for the deal are completed.

The agreement defines the general cooperation in research and development, designing, construction, and operation of nuclear reactors for peaceful purposes.

Hungary at present runs four nuclear reactors for power generation and plans to build more, for which a bidding process is anticipated to start later this year.

Go to previous page