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Wednesday, January 8, 2014

South Korean parts scandal - JS Cable to close permanently

It has been reported in the press, although not yet at the LS Cable site (parent of JS Cable) that the company at the center of the cabling controversy in South Korean nuclear power plants, JS Cable, is going to be completely shut down.

At the same time as LS Cable announced closure of JS Cable, it announced the donation of 100 million won for use in nuclear safety research.

The three reactors shut down for recabling and reinspection due to having been fitted with I&C cabling supplied by this company have been approved for startup.  Two are on line; the third is expected to be within a week.  However, the scandal has clearly been too much for this company to continue operating the subsidiary - although it has been stressed that as the hearings continue, the company will continue to respond and supply witnesses and information.

Story here:

LS Cable to close JS Cable subsidiary


Previous reporting on this issue at Atomic Power Review:

July 2013 report

September 2013 report

October 2013 report

November 2013 report


UPDATE - 1/13/2014  9:00 AM

A further story on JS Cable was published by The Korea Times.  Click here to read it.

Hyundai Heavy Industries has made a vow to root out corruption, relative to the discoveries made during the Korea Hydro & Nuclear Power scandal.  Click here to read about this development.

Not related to the parts scandal, but of interest indirectly is the report that KEPCO, or Korea Electric Power Corporation, is back to profitability after six years in the red.  Click here to read about it.  Part of the monies raised could include sale of KEPCO's stake in Denison, a Canadian uranium mining firm.  Click here to read about the KEPCO core assets sale.

1:30 PM Eastern 1/8/2014

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