President Ferdinand Marcos Jr and South Korean President Yoon Suk Yeol witnessed the signing of a memorandum of understanding between the Department of Energy and Korea Hydro & Nuclear Power Co. Ltd (KHNP) in Malacanang on Monday.

''The memorandum of understanding is designed to generate critical information to guide the Philippine government's decision-making process, not only on the Bataan Nuclear Power Plant but also in exploring other nuclear technologies and potential alternative sites for nuclear energy development'', the Department of Energy said.

''This study will play a clear role in assessing the feasibility, safety, and sustainability of various nuclear energy options, helping the government make well-informed choices that align with the country's long-term energy goals,'' the DOE said.

The Bataan Nuclear Power Plant was completed in the mid-1980s but was not allowed to operate in 1986 due to fears a nuclear accident may take place if an earthquake occurs in the area.

The feasibility study, set to start in January 2025, will be carried out in two phases.

The first phase will assess the condition of the Bataan Nuclear Power Plant and its components. The second phase will evaluate if the plant can be refurbished using the most optimal model.

If the findings from the first phase show that going to the second place is not feasible, KHNP may recommend other options, including constructing a conventional plant or the development of a small nuclear reactor. DMS