A barrage of domestic news reports have highlighted the Dec. 27 Korea-United Arab Emirates (UAE) contract, pointing out that a Korean consortium is scheduled to design, build and operate nuclear power plants for the Middle East country's energy program for the next 60 years.
As the first case of Korea's export of nuclear technology, there is no doubt that the multibillion-dollar contract is a major economic, technological and diplomatic achievement for the country, which built its first commercial nuclear plant in 1978.
However, a closer look at foreign media reports, including those from the UAE, indicates that the deal is not as lucrative as projected by the domestic reports.
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