Moon asks Czech Prime Minister to support nuclear reactor bid

President Moon Jae-in and first lady Kim Jung-sook walk toward a car after arriving at the Vaclav Havel Airport Prague in the Czech Republic for a two-day visit, Wednesday (KST). Yonhap

By Kim Yoo-chul

PRAGUE — President Moon Jae-in asked the Czech Republic Prime Minister Andrej Babis to support a South Korean firm’s bid to build a nuclear power plant in the European country, Wednesday (KST).

The nuclear project was a key topic at Moon’s meeting with Babis, presidential aides said. Moon arrived here early Wednesday en route to Buenos Aires to participate in the G20 summit later this week.

“Moon delivered his hope for Korea Hydro and Nuclear Power Co’s (KHNP) bid to win a nuclear reactor deal in the central European country,” an aide said on condition of anonymity.

Moon previously promised to provide assistance to KHNP as the government has come under pressure to help domestic nuclear reactor suppliers remain internationally competitive in its plan to gradually phase out its nuclear reactors.

President Moon Jae-in, right, and first lady Kim Jung-sook pray at St. Vitus Cathedral in Prague, Czech Republic, Wednesday. Yonhap

President Moon visits St. Vitus Cathedral in Prague, Czech Republic, Wednesday. Yonhap

The Czech Republic is considering lots of options on nuclear energy after the country’s main nuclear reactors slowly approach the end of their lifespan. Whether and how to finance their replacement is being discussed by the Czech government and the country’s state-owned energy group CEZ.

The aide said Moon remained “low-key” on the matter due to growing criticism about his “nuclear reactor sales diplomacy” from politicians in South Korea and the ongoing debate on the specifics of new nuclear reactor projects, here.

President Moon speaks to the Czech Republic Prime Minister Andrej Babis during the two countrires' summit at Hilton Prague Hotel, Nov, 28. Yonhap

“Once the details of new nuclear projects are fixed, then the Czech government will initiate its bidding process. South Korea is ready to help KHNP; however, it’s too early to help the firm,” the aide said.

Given the huge costs of building new reactors, CEZ’s leadership has been reluctant to embark on such a project without state guarantees, as minority shareholders are opposed to the idea of CEZ building new nuclear plants on its own, as they fear it will hit their dividend payments. This will be one of the most expensive decisions facing Babis’ government, according to foreign media reports.

Building new reactors would cost at least $6 billion. Currently there are six interested companies and consortia on including ones from China, Russia, France and the United States.

President Moon greets officials who accompanied the Czech Republic leader ahead of the summit. Yonhap

Cheong Wa Dae said Moon and Babis discussed new growth opportunities in emerging technologies such as artificial intelligence and the internet of things.

Babis was also briefed on the current status of the ongoing denuclearization process and appreciated the South’s efforts to promote peace.

After the summit with Babis, Moon met with South Koreans living in the Czech Republic to urge them to continue being a bridge between the two countries.