MEDIA RELEASE
Released By:
Downer
I am pleased to announce that Australia will contribute a further $2 million
to the Korean Peninsula Energy Development Organization (KEDO) this financial
year.
The Australian Government is an active supporter of international nuclear
non-proliferation efforts. We value highly the important contribution KEDO makes
to such efforts on the Korean Peninsula, and to maintaining the stability of
North Asia generally. Australia has a strong interest in the security of North
Asia and in the reduction of tensions there. Australia is the largest
non-Executive Board financial contributor to KEDO, the latest contribution
bringing our total support to date to $21.9 million.
KEDO is an international consortium led by the United States, the Republic of
Korea and Japan. KEDO was established under the 1994 Agreed Framework between
the United States and the DPRK under which North Korea agreed to freeze its
existing nuclear program under the supervision of the International Atomic
Energy Agency. In return, North Korea is receiving assistance with meeting its
energy needs. KEDO is constructing two light-water nuclear reactors in North
Korea. Until these reactors come on line, KEDO is providing 500,000 tonnes of
heavy fuel oil annually to be used by North Korea for electricity generation and
heating.
Australian contributions to KEDO are used to provide heavy fuel oil and are
funded through the Australian Government's aid program.
Australia remains committed to helping encourage a positive security
situation on the Korean Peninsula. Australia's dialogue with the DPRK has played
an important part in regional and international efforts encouraging North Korea
to end its isolation and engage positively with the international community.
Media enquires: Chris Kenny 0419 206 890