Export-Import Bank of Korea Partners with Türkiye Nuclear Energy Corporation to Support Sinop Nuclear Bid
The Export-Import Bank of Korea has begun financial cooperation to support a bid to win a project to build four new nuclear reactors in Sinop, Türkiye. The plan is to strengthen Team Korea's competitiveness by examining long-term financing options from the early stages of the project.
The Export-Import Bank of Korea said on Nov. 4 that it had signed a memorandum of understanding (MOU) on financial cooperation for the nuclear power project with the Türkiye Nuclear Energy Corporation, in the presence of the leaders of both countries. The agreement was pursued to expand into the financial sector an MOU on nuclear energy cooperation signed by Korea Electric Power Corporation and the Türkiye Nuclear Energy Corporation during a summit between the two countries in November 2025. Korea Electric Power Corporation is currently conducting a preliminary feasibility study for the Sinop nuclear power project.
The two institutions will work together to analyze the financial model for the new nuclear power plant and develop a financing structure. They will exchange information needed to assess the feasibility of financial support and operate a working-level consultation group to jointly review financing options suited to nuclear power projects that require large-scale, long-term funding. Drawing on its experience providing financial support for the Barakah nuclear power plant in the United Arab Emirates (UAE), the Export-Import Bank of Korea plans to assess the feasibility of financial support and key project risks from the early stages.
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Hwang Kiyeon, president of the Export-Import Bank of Korea, said, "Winning overseas large-scale nuclear power projects depends on financing competitiveness for large-scale, long-term funding as well as technological capabilities. We will prepare optimal financial solutions and actively support Team Korea's bid for the nuclear power project in Türkiye."
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