Press Release: Renewed EU support for non-proliferation on the Korean Peninsula

The Council approved on 7 December 2001 the conclusion by the European Commission of a renewal Agreement with the Korean Peninsula Energy Development Organisation (KEDO) the international body set up to support non proliferation efforts on the Korean peninsula. Negotiations with KEDO partners, the US, Japan and the Republic of Korea were recently finalised on the terms of the EU's future support to KEDO for the period 2001 to 2005. The main terms are the financial contribution of the EU (€20 million per year), renewal of the EU's seat on the KEDO Executive Board and improvements in the EU's representation in the staff in the KEDO Secretariat and in bidding possibilities for industrial contracts.