THE company behind plans to bring nuclear new build to Cumbria is set to hold meetings with a South Korean firm about a possible tie-up.

NuGen will meet representatives from Korea Electric Power Corporation (Kepco) to discuss its plans for a new power station at Moorside, near Sellafield.

Business Secretary Greg Clark announced that this meeting would take place at a press conference in Seoul but did not give any timescale.

The country's Yonhap news agency quoted Mr Clark as saying: "If Kepco do agree to become part of the consortium, then they will have the full rights in terms of the relationship with the UK Government and the UK authorities that other members of the consortium have."

He was in Seoul to meet with officials and executives of Kepco and possible investors because of the financial difficulties surrounding Toshiba, which has a 60 per cent stake in NuGen and is soon to acquire the rest of the company. The Japanese giant is set to record a 713bn yen (£5bn) loss in its nuclear business.

Toshiba subsidiary Westinghouse - which filed for bankruptcy last week - was due to provide three AP1000 reactors for Moorside.

Kepco though manufactures its own reactor, the APR14000 and Mr Clark said the choice of reactor was a decision for NuGen.