In another milestone for Korea's nuclear plant industry, Argentina on Monday signed a memorandum of understanding for Korean cooperation in building a nuclear plant and repairing existing plants there.

Minister of Knowledge Economy Choi Kyoung-hwan and Argentina's Minister of Federal Planning, Public Investment and Service Julio de Vido signed the MOU in Seoul on Thursday.

Argentina operates two heavy-water nuclear reactors and plans to build one more. "The new reactor project is expected to be worth around W4 trillion (US$1=W1,164), while the repair work on an existing reactor is projected to be worth close to W1 trillion," an official said.

Argentina also plans to hold a tender for a new light-water reactor next year, with Korea, France, Russia and China expected to compete.