Energy
Westinghouse Settles Nuclear Technology Dispute With Korea
- Settlement clears way for Seoul to pursue atomic power goals
- Kepco, other nuclear stocks jump in light of announcement
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Westinghouse Electric Co. and South Korea have resolved an intellectual property dispute that had been a major obstacle for the Asian nation in pursuing its goal of becoming a global supplier of nuclear reactors.
The settlement will allow for cooperation between Westinghouse and state-run Korea Electric Power Corp. and its unit Korea Hydro & Nuclear Power Co. as they move forward with new nuclear reactor projects, according to a statement from the American company.