Industry minister thanks Czech envoy after Korea wins deal for nuclear plant project

Industry Minister Ahn Duk-geun speaks during an interview at Government Complex Seoul in Jongno District, Seoul, July 18. Yonhap

Industry Minister Ahn Duk-geun on Monday expressed gratitude to Ivan Jancarek, the Czech ambassador to Seoul, for Prague's selection of the Korean consortium as the preferred bidder for the European nation's nuclear plant project.

Ahn made the remark during a meeting with Jancarek in Seoul, along with representatives from business lobby groups, and called for close bilateral cooperation for the successful implementation of the project, according to the Ministry of Trade, Industry and Energy.

Last week, the state-run Korea Hydro & Nuclear Power was selected as the preferred bidder for a nuclear power project in the Czech Republic estimated at 24 trillion won ($17.2 billion), paving the way for closer bilateral economic and industrial ties.

"Thanks to the Czech government's unbiased bidding procedures and reasonable evaluation, the competitiveness of Korea's nuclear energy sector has been recognized once again worldwide," Ahn said, expressing hope for developing a collaborative ecosystem with Prague.

If finalized, the deal will mark Korea's first overseas nuclear power plant project since it won the Barakah Nuclear Power Plant in the United Arab Emirates (UAE) in 2009.

Ahn added that the project also reflected the two countries' trust-based relationship built through 34 years of diplomatic ties.

"We wish to develop a comprehensive cooperative system that encompasses not only the construction of nuclear reactors but also extends to other key areas, such as expert education, technology development, projects in third countries, and the small modular reactor sector," Ahn said.

Korea currently aims to advance into the broader European nuclear energy market on the back of its latest achievement in the Czech Republic.

The industry minister also vowed to discuss the progress of the nuclear reactor project frequently and utilize the opportunity to expand bilateral economic ties "comprehensively and extensively."

The two sides are expected to sign a deal around March 2025, with construction planned to start in 2029 and the trial operation of the first new reactor set for 2036, according to officials. (Yonhap)