History
Formal ground breaking on the site for two light water reactors (LWR) was on August 21, 1997 at Kumho, 30 km north of Sinpo. The Kumho site had been previously selected for two similar sized reactors that had been promised in the 1980s by the Soviet Union, before its collapse.
Soon after the Agreed Framework was signed, U.S. Congress control changed to the Republican Party, who did not support the agreement. Some Republican Senators were strongly against the agreement, regarding it as appeasement. KEDO's first director, Stephen Bosworth, later commented "The Agreed Framework was a political orphan within two weeks after its signature".
Arranging project financing was not easy, and formal invitations to bid were not issued until 1998, by which time the delays were infuriating North Korea. Significant spending on the LWR project did not commence until 2000, with "First Concrete" pouring at the construction site on August 7, 2002. Construction of both reactors was well behind the original schedule.
In the wake of the breakdown of the Agreed Framework in 2003, KEDO has largely lost its function. KEDO ensured that the nuclear power plant project assets at the construction site at Kumho in North Korea and at manufacturers’ facilities around the world ($1.5 billion invested to date) were preserved and maintained. The project was reported to be about 30% complete. One reactor containment building was about 50% complete and another about 15% finished. No key equipment for the reactors has been moved yet to the site.
In 2005 there were reports indicating that KEDO had agreed in principle to terminate the light-water reactor project. On January 9, 2006, it was announced that the project was over and the workers would be returning to their home countries. North Korea demanded compensation and has refused to return the approximately $45 million worth of equipment left behind.
Read more about this topic: Korean Peninsula Energy Development Organization
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