The company behind the plans for Cumbria's £10bn nuclear new build is set to meet top executives from a Korean company interested in buying into the project, according to new reports.

A report in the Korea Herald - citing "industry sources" - has said that NuGen, which has plans for a power plant at Moorside, near Sellafield, and Korea Electic Power Corporation (Kepco), which has expressed an interest in buying into the project are set to meet at a conference in London next week.

Both Tom Samson, NuGen's chief executive, and Park Jong-hyuck, the chief nuclear officer of Kepco, are due to speak at the event, which has been organised by trade body the Nuclear Industry Association (NIA), and takes place on Wednesday.

This report said their meeeting was "possibly to discuss stake acquisition in a nuclear plant" adding: "NuGen, owned by Japan’s Toshiba, is planning to sell substantial stake in a nuclear plant that will be Europe’s largest once completed, which is being eyed by Kepco."

NuGen has two shareholders, Japan's Toshiba, which has the 60 per cent majority stake, and ENGIE of France. The latter though is selling its shares and Toshiba is set to take full control.

The Japanese giant though is in serious financial difficulty.

Toshiba is forecast to make a £6.5bn loss for the last year of business and has missed a deadline to file its final year accounts in Japan.

It has said it remains committed to Moorside but its financial position has led to many questioning this. NuGen is carrying out a "strategic review" into its project.

Kepco has worked on multiple projects outside South Korea including in China, Ukraine, Paraguay and the United Arab Emirates.

Earlier this year Cho Hwan-eik, the chief executive of Kepco was quoted as saying: "We will jump into (a deal on NuGen) most quickly once its debt, equity structure is determined."

Business Secretary Greg Clark is also said to have met Kepco executives on a trip to Korea this year, though this has never been confirmed by either party.

NuGen have not commented on the report.