This report is designed to assist Members of the 110th Congress as they consider the costs and benefits of the U.S.-South Korean Free Trade Agreement (KORUS FTA). It examines the provisions KORUS FTA in the context of the overall U.S.-South Korean economic relationship, U.S. objectives, and South Korean objectives.

This report provides a background of the Organization for Economic Cooperation and Development (OECD) financial crisis and the issues for Congress.

The usefulness of vitrification technology for low-and intermediate-level radioactive wastes was demonstrated with high volume reduction capability and good mechanical and chemical stability of final waste forms, and commercial vitrification facility is expected to be constructed at Ulchin site of Korean Nuclear Power Plant Ulchin Unit 5 and 6. Hence, overall economic assessment was necessary to find out the economic advantage of the vitrification facility and to predict the construction and operation costs of the facility on the preliminary bases. Additionally, the generation characteristics of radioactive wastes were investigated. The results of the cost analysis showed that the disposal cost of radioactive wastes treated by vitrification facility reduced to 85 percent compared with that by current waste treatment system. And the present worth analysis was performed through the cost-benefit analysis method for the commercial vitrification facility. The results showed that the vitrification facility combining cold crucible melter (CCM) for treatment of combustible DAW, spent resin, and borated liquid waste concentrate and plasma torch melter (PTM) for non-combustible DAW and spent filter is more economical than current waste treatment system when the escalation rate of disposal cost of more than 10 percent per year was applied.

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