AGREEMENT ON NEW POWER PLANT IN NORTH KOREA SIGNED.

The Korean Peninsula Energy Development Organisation (KEDO), of which the EU is one of the four Executive Board members) and South Korea's KEPCO (Korea Electric Power Corporation) signed an important turnkey contract on December 15 in Seoul to provide two light water reactor (LWR) power plants to North Korea. This contract between, a South Korean contractor and KEDO marks the beginning of serious construction work on the LWR in North Korea. European Commissioner for External Relations, Chris Patten, said that he welcomed the agreement "which means that full-scale construction can now take place". "The EU is an active player within KEDO alongside the Republic of Korea, Japan and the United States, and views the project as a major contribution to stability in the region", he added.KEDO was established in 1995 following the signature of the Agreed Framework...