SEOUL – South Korean Industry Minister Ahn Duk-geun met with Czech Ambassador Ivan Jancarek in Seoul on Monday to express gratitude for selecting a South Korean consortium as the preferred bidder for a significant nuclear plant project in the Czech Republic.
According to Yonhap News Agency, Industry and Energy, during the meeting, which included representatives from various business lobby groups, Minister Ahn emphasized the importance of bilateral cooperation for the successful implementation of the nuclear project. Last week, Korea Hydro & Nuclear Power was announced as the preferred bidder for the project, estimated to be worth 24 trillion won (US$17.2 billion). Minister Ahn highlighted the fair bidding process and the thorough evaluation conducted by the Czech government, which he said underscored the global competitiveness of South Korea's nuclear energy sector.
The deal, if finalized, will be South Korea's first overseas nuclear power project since securing the Barakah Nuclear Power Plant project in the United Arab Emirates in 2009. Ahn also noted the project as a reflection of the strong, trust-based relationship between South Korea and the Czech Republic, established over 34 years of diplomatic ties. He expressed hopes for developing a comprehensive cooperative system with Prague, encompassing not only nuclear reactor construction but also expert education, technology development, projects in third countries, and the small modular reactor sector.
The industry minister pledged to regularly discuss the project's progress and use the opportunity to broaden economic ties between the two nations. Officials expect the formal signing of the deal around March 2025, with construction slated to begin in 2029 and the first reactor's trial operation anticipated in 2036.