A Korean firm has said it is interested in taking a stake in the company behind Cumbria's planned nuclear new build, according to new reports.

The Korea Electric Power Company (Kepco) is said to be investigating becoming part of NuGen , which has plans for a new power plant at Moorside , near Sellafield.

It is also rumoured to be a potential buyer for Westinghouse Electric, the troubled nuclear division of Toshiba. The Japanese giant has a 60 per cent stake in NuGen and if the plant goes ahead, would supply its three reactors.

These claims have appeared in the Financial Times where Han Chul-hee, of the Korean energy ministry’s nuclear export promotion division, was quoted as saying: “We’re interested in joining the (NuGen) consortium.

“Now, (NuGen) want us to be involved in (NuGen) to a greater extent. We are looking at how profitable the project will be and how much investment we should make.”

Mr Han was also quoted as saying that the company would review any offer made by Toshiba over Westinghouse.

Kepco traces its roots back to 1898 and has its headquarters in Naju.

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

Rumours began circulating in May last year that the firm was in negotiations with NuGen. Chief executive of Cumbria Chamber of Commerce, Rob Johnston, said the company could be the "saviour of the project" after doubt emerged over Toshiba's involvement - despite that company saying it was still committed to the project - because of its major financial problems.

A spokesman for NuGen said: “NuGen is actively engaged in exploring a universe of opportunities to bring in additional investments, including debt and equity, to help fund the construction of Europe’s largest new nuclear power station.”