Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
Korea seeks to win Czech nuclear power plant deal
Trade, Industry and Energy Minister Moon Sung-wook, second from right, poses with Czech Prime Minister Andrej Babis, second from left, and Minister of Industry and Trade Karel Havlicek, right, at the prime minister's office, June 18, during his visit to the Czech Republic. Courtesy of the Ministry of Trade, Industry and Energy
By Baek Byung-yeul
By Baek Byung-yeul
Korea is going all-out to win an 8 trillion won ($7 billion) nuclear power plant order in the Czech Republic with high-ranking officials from the government and state-run nuclear plant operator traveling to Prague to promote the country's advanced technology.
The Ministry of Trade, Industry and Energy said Saturday that Minister Moon Sung-wook and Chung Jae-hoon, CEO of the state-run Korea Hydro & Nuclear Power (KHNP) visited the European country and held meetings with Prime Minister Andrej Babis and Minister of Industry and Trade Karel Havlicek, June 17 and 18 (local time).
During his visit, Moon stressed that Korea would be the best partner in the nuclear power plant project; pointing to the successful completion of the construction of the first nuclear power plant in the United Arab Emirates.
“The minister used the UAE nuclear power plant built by Korea as a successful example that was completed within the planned budget and time period, and expressed confidence that the Czech nuclear power plant project would be properly budgeted for and constructed in a timely manner” the industry ministry said.
He also emphasized that the two countries will create a win-win outcome as KHNP has signed memoranda of understanding (MOUs) with the Czech Power Industry Alliance, an association that supervises nuclear power plant projects in the country, and Czech company Sigma. In addition to KHNP, Doosan Heavy Industries & Construction and Daewoo Engineering & Construction also inked MOUs with local Czech firms.
The Czech Republic plans to build nuclear power plants in Dukovany and Temlin by 2040. As a first step, the country is expected to accept official bidding for the project in Dukovany, which is estimated to cost around 8 trillion won.
With the United States and France also seeking to win the contract, the Czech government is expected to make a final decision in 2023. Russia and China were also considered as potential bidders, but the Czech Republic rejected those two countries citing safety risks.
The industry minister also asked Prime Minister Babis and Industry and Trade Minister Havlicek to visit Korea, saying he would accompany them in person to show them the safety and excellence of Korea's nuclear power plants. So far, Korea has constructed 27 nuclear power plants ― 26 in Korea and one overseas.
After the meeting, the Czech prime minister said there will be no problem with Korea's participation in the bidding, the industry ministry said. “Korea has no safety risks from the Czech Republic's perspective and opposition parties, which opposed the inclusion of China and Russia as potential bidders, have not expressed opposition to Korea,” the Czech prime minister was quoted as saying by the ministry.