South Korea used political persuasion as well as a sharpened competitive edge to win a high-profile, $20.4 billion deal to build four nuclear power plants in the United Arab Emirates.
U.A.E. officials over the weekend tapped a consortium led by Korea Electric Power Co., or Kepco, to design, build and help run the four plants from 2017 to 2020. The plants will be the first civilian nuclear reactors in the Mideast and mark the first time South Korea has exported its its nuclear-design capability.
"This success is the result of efforts by the government and many companies, but I have to tell you, I also believe this is heaven-sent national fortune," President Lee Myung-bak, who took an active role in the process, said in a national address Monday. The South Korean consortium was chosen over groups from France and the U.S.
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