Korea is seeking to export nuclear reactors to Lithuania. A nine-member Lithuanian government delegation arrived in Seoul on Wednesday and is talking to relevant government ministries here, including the Ministry of Knowledge Economy, about purchasing reactors. The delegates include Lithuania's Defense Minister Rasa Jukneviciene and Vice Minister of Energy Romas Svedas.

"The Lithuanian government is planning to build two nuclear power plants by 2018, and it is interested in Korean-made reactors, which are cheap and safe," a Korean government official said.

As Lithuania lacks the financial resources to buy the plants up front, Korea will export the technology as an independent power producer if the two sides clinch a deal. That means Korea would finance the construction, estimated at US$5 billion for each power plant, and make back the money by operating the plants and selling the electricity.

In order for the reactors to be exported to Lithuania they will first have to be redesigned in accordance with European nuclear standards. The government believes that a successful deal with Lithuania could lead to similar deals with other European countries, such as Poland.

"Meeting the European standards will not be difficult if we succeed in developing core nuclear technologies by 2012," a government official said. "Then we will be able to export nuclear technology to more countries."

Korea is also set to make inroads into the Indian nuclear energy market. It recently agreed with India to form a task force on the construction of nuclear power plants in the South Asian country. The team will discuss the selection of a plant site, investment methods, and a construction timetable.