1. Foreign Minister Yun Byung-se, together with US Secretary of Energy Earnest Moniz, formally signed the revised “Republic of Korea-United States Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy” in Washington DC on June 15 (June 16, Korea Standard Time).

◦ The signing ceremony was attended by government officials and diplomats at the Embassy in the US of the ROK; and high-level officials of the Departments of State and Energy as well as the White House of the US.

2. Now that the revised agreement has been signed, the 40-year-old existing agreement will be replaced by the new one that reflects the ROK’s enhanced stature.

◦ The ROK and the US, after embarking on negotiations to revise their Nuclear Cooperation Agreement in October 2010 followed by two years of especially intensive negotiations after the launch of the Park Geun-hye government, initialed the revised agreement on April 22. The two countries had since undergone their respective domestic procedures necessary for its formal signing.

3. At the signing ceremony, Minister Yun and Secretary Moniz reaffirmed their shared understanding that the new agreement will upgrade the ROK-US ties for nuclear cooperation into a strategic and future-oriented relationship and set another important milestone for the bilateral alliance.

◦ Minister Yun noted with appreciation that the agreement calls mainly for efficient management of spent nuclear fuel; stable supply of nuclear fuel; and the promotion of nuclear exports, thereby facilitating modern and mutually beneficial cooperation between the ROK and the US in the field.

- Furthermore, the Minister, calling the revised agreement a success case produced from the strengthening of bilateral strategic cooperation in an innovative and future-oriented manner, noted that it will become another central pillar after the Mutual Defense Treaty and the KORUS (Korea-US) FTA that buttresses the bilateral alliance.

◦ Secretary Moniz noted that the agreement will help further solidify the ROK-US alliance, an anchor for peace and stability in Northeast Asia, adding that it is expected to give a big boost to the nuclear industries of the two countries.

- In particular, he voiced hope that the two countries will work closely together on diverse peaceful uses of nuclear energy through the high-level committee to be formed under the new agreement.

4. The two sides agreed to work closely together to launch the high-level committee at an early date and to implement other follow-up measures in an efficient manner.


* unofficial translation