Cranberry Township, Pa., Jan. 16, 2025 – Westinghouse Electric Company announced a global settlement agreement with Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power Company (KHNP) to resolve its outstanding intellectual property dispute.
This agreement allows both parties to move forward with certainty in the pursuit and deployment of new nuclear reactors. The agreement also sets the stage for future cooperation between the parties to advance new nuclear projects globally.
“Westinghouse is pleased to reach an agreement with KEPCO and KHNP on this important issue. As the world demands more firm baseload power, we look forward to opportunities for cooperation to deploy nuclear power at even greater scale,” said Westinghouse President & CEO Patrick Fragman.
Westinghouse Electric Company will work with KEPCO and KHNP to dismiss all current legal actions.
Further details regarding the terms of the settlement remain confidential, in accordance with the agreement reached by all parties.
