South Korea’s nuclear expertise is becoming a central bargaining tool as President Lee Jae Myung prepares to meet US President Donald Trump in Washington on August 25, with speculation that a bilateral nuclear energy partnership may be raised during the summit, Korea Times reports.

This follows Seoul’s success last month in persuading Washington to scale back proposed tariffs on Korean imports from 25% to 15%, in return for investment commitments to support America’s struggling shipbuilding sector.

Ahead of the summit, Whang Joo-ho, chief executive of Korea Hydro & Nuclear Power (KHNP), travelled to Washington on August 23 for a series of meetings with figures from the US nuclear power industry. Talks are expected to focus on nuclear fuel and small modular reactor (SMR) technologies. He is joined by Kim Dong-cheol, CEO of Korea Electric Power Corporation (KEPCO), which owns KHNP and is the country’s sole power distributor. South Korea’s Minister of Trade, Industry and Energy, Kim Jung-kwan, has also indicated that he is exploring every possible avenue for nuclear collaboration with the US.

Industry observers are particularly attentive to the possibility of a joint venture between KHNP and Westinghouse, the American firm holding critical nuclear technologies. Although Whang will not meet Westinghouse executives during this trip, KHNP has confirmed that such a venture is being considered, albeit at an early stage.

The US has not built a new nuclear plant since 2013, despite Trump’s ambition to quadruple its generating capacity from 100 gigawatts to 400 gigawatts by 2050. Westinghouse retains core intellectual property but lacks construction capacity, an area where South Korean firms excel. South Korea itself operates 26 reactors, with four under construction, and has exported its technology since its landmark deal with the United Arab Emirates in 2009. Current negotiations are under way with Saudi Arabia, Poland, the Czech Republic, the UK and India.

However, cooperation with the US is complicated by a controversial settlement reached in January between KHNP, KEPCO and Westinghouse over reactor technology rights. The presidential office has now ordered an inquiry into whether the deal, which enabled KHNP to win a KRW26 trillion ($18.6bn) Czech contract, placed excessive long-term obligations on Korean firms. Critics argue the terms give Westinghouse disproportionate control over Korea’s nuclear exports, while KHNP insists profitability remains possible.

Attention now centres on whether a new joint venture could ease tensions and strengthen bilateral nuclear ties during Lee’s US visit.