The Korean company interested in buying into Cumbria's nuclear new build has said it is 'competing' to supply reactors for the project.

Korea Electric Power Corporation (Kepco), which is in discussions about taking a stake in NuGen, which has plans for a new power station at Moorside, near Sellafield, has said it has found the British firm "positive" about using its APR-1400 technology.

This issue has long been seen as a stumbling block to Kepco becoming a Moorside investor because American company Westinghouse Electric is due to provide three of its AP1000 reactors to the project.

NuGen chief executive Tom Samson though has said that all aspects of Moorside, including technology, have been reviewed.

A Kepco official told Korean publication The Investor: “NuGen told us that they are positive about considering KEPCO’s APR-1400 technology for the project

“But we still have to compete with Westinghouse for the final supply deal.”

Westinghouse hit the headlines in January after then parent company Toshiba declared that it had overpaid, by several billion dollars, for another nuclear services business. This has been the main cause of Toshiba’s current financial problems and the Japanese giant is set to declare multi-billion yen losses.

The manufacturer, once part of BNFL, is based in Pittsburgh and is no longer considered part of Toshiba after it filed for Chapter 11 bankruptcy protection in the USA.

This has led to concerns about how it may affect the plans for the £11bn Cumbrian development.

Toshiba also has a 60 per cent stake in NuGen and is soon to take full control but its financial position has led to questions over its future commitment to Moorside.

At a conference in London last month Jong-hyuck Park, the chief nuclear officer of Korea Electric Power Corporation (Kepco) confirmed the company was in discussions with Toshiba to buy into NuGen.

"We will be a long-term partner for the strategic delivery of the Moorside project," he said.

A NuGen spokesman said: "NuGen is extremely encouraged by the volume of interest globally in its ambitions at Moorside, and Toshiba has been engaged with multiple credible and capable parties who have expressed an interest in acquiring NuGen. This is further testimony of the attractiveness of the nuclear industry in the UK and an indication of the degree of foreign investment that is ready and willing to enter this market.

"NuGen and its shareholder Toshiba are exploring a range of options for funding the Moorside Project, which includes Toshiba selling some or all its shareholding in NuGen, and they have maintained a proactive discussion with UK Government about its progress."

"Toshiba are running an ongoing sales process with multiple parties and it is premature to speculate on technology choices and ownership of NuGen," he added

"NuGen and Toshiba maintain an active dialogue with potential investors and discussions between parties and or Government are confidential."

Any new reactor design would need to go through the UK's regulatory processes.