Czech Republic optimistic about Korean consortium's bid for nuclear power plant project

By Park Sae-jin Posted : September 20, 2024, 16:06 Updated : September 20, 2024, 16:06
President Yoon Suk Yeol right speaks during a joint press conference with Czech President Petr Pavel left at Prague Castle in the Czech Republic on Sept 19 local time Yonhap
President Yoon Suk Yeol (right) speaks during a joint press conference with Czech President Petr Pavel at Prague Castle in the Czech Republic on Sept. 19, 2024. Yonhap
SEOUL, September 20 (AJP) - Czech President Petr Pavel has shown optimism about a Korean consortium's chances of winning a bid for the construction of two new nuclear power plants in Dukovany. This positive prospect was shared during a summit with Korean President Yoon Suk Yeol, according to Kim Tae-hyo, First Deputy Director of Korea's National Security Office, on Friday.

At the summit held at Prague Castle, Pavel expressed his high expectations for Korea's participation in the Dukovany project. In July, a Korean consortium led by Korea Hydro & Nuclear Power (KHNP) was selected as the preferred bidder for the project estimated at 24 trillion won ($18 billion). But the project faced a setback as U.S.-based Westinghouse Electric filed an appeal with the Czech government last month, arguing that the Korean consortium's reactors are based on its technology.

According to Kim, Pavel emphasized that this project could serve as the foundation for deeper cooperation between the two countries, strengthening their mutual relationship.

Regarding the possibility of further nuclear power plant projects beyond Dukovany, Pavel said, "It is premature to discuss before any contract is signed." However, he added, "Depending on how successful this project is, the Temelín nuclear power plant project may be considered."

Pavel also pointed out broader nuclear development opportunities across Europe, saying, "There are nuclear development plans in Poland, Slovenia, and Slovakia," and that "this presents great potential for cooperation with Korea, and we can also explore opportunities to enter third-country markets together."

Yoon pledged Korea’s full cooperation if it wins the Dukovany project, with Pavel promising significant industrial opportunities this would bring.

In a joint press conference following the summit, Yoon said, "Once the contract is finalized and construction begins, we will work with the Czech Republic through all phases, from design to construction." He added, "Not only will we cooperate in the development of new technologies, but also in training nuclear energy personnel, which could indeed establish a true nuclear energy alliance."

Yoon further emphasized the strategic importance of this partnership, commenting, "Building a nuclear plant together signifies a new level of strategic cooperation between us, and I anticipate expanded collaboration in cutting-edge industries and scientific technology."

In response to concerns over intellectual property rights related to Westinghouse Electric's nuclear technology, Yoon said, "Both the Korean and U.S. governments share a strong consensus on nuclear cooperation, including intellectual property issues. The Korean government is also working towards an amicable resolution with the U.S. company."

Yoon expressed confidence that the situation would be eventually resolved favorably. Yoon concluded by saying, "The government will continue to monitor and carefully manage the remaining procedures leading up to the final contract signing next year."
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