This undated photo, provided by Korea Hydro & Nuclear Power, shows the Dukovany nuclear power plant in the Czech Republic.

Korea and the United States have formally signed a memorandum of understanding (MOU) on principles concerning nuclear exports and cooperation, Seoul's industry ministry said on Thursday.

Industry Minister Ahn Duk-geun and Secretary of Energy Jennifer Granholm attended the signing event on Wednesday (local time), which involved Korea's industry and foreign ministries and the U.S.' State and Energy Departments. It came after the two sides initialed the document in November.

In a joint release, the two sides highlighted their mutual commitment to maximizing the peaceful use of nuclear energy in accordance with the "highest standards" of safety, security, safeguards and nonproliferation.

The signing of the MOU followed a dispute between Korea's Korea Hydro & Nuclear Power (KHNP) and Westinghouse Electric, a U.S. nuclear energy firm, over a nuclear reactor export issue. (Yonhap)