Ambassador for nuclear energy cooperation Park Ro-byug said the deal would pave the way for South Korea to better manage spent nuclear fuel and improve nuclear exports.
The revised treaty sets the terms that will govern South Korea's management of spent nuclear fuel for the next 20 years. It needs approval from legislatures in both countries.
South Korea is still not allowed to reprocess spent nuclear fuel using US-originated nuclear materials without prior consent.
South Korea wants the ability to enrich uranium, a process it must undergo to become a viable nuclear fuel, to reduce import costs and to aid its reactor exports.
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But the revised deal gives more leeway to South Korea in research activities and data collection related to spent fuel. Seoul and Washington also agreed to establish a high-level committee to discuss uranium enrichment for nuclear power generation, the key sticking point during the five-year negotiations.
Seoul officials said the establishment of the committee was a step toward securing consent for uranium enrichment. The current treaty, which took effect in 1974 when South Korea's nascent nuclear power industry was highly dependent on the US technologies, expires early next year.