Korea eyes more nuclear deals in Europe after Czech contract

Courtesy of Yonhap News

South Korea is gaining global attention as a leading exporter of nuclear plants, following its landmark deal in the Czech Republic.

Whang Joo-ho, chief executive officer of the Korea Hydro & Nuclear Power (KHNP), said in a recent media interview that the company is “getting closer to securing contracts with other customers in Sweden, Finland, the Netherlands, and Slovenia following the Czech contract.”

He also noted that Norway and Kazakhstan are also showing interest in Korean nuclear reactors.

The nuclear cooperation between Korea and the Czech Republic is also intensifying.

A special envoy of Czech Prime Minister Petr Fiala will visit Korea in early September, according to a government source on Wednesday.

The two countries are currently coordinating the specific schedule and size of the delegation, the source said.

The upcoming visit is expected to focus on aligning the agenda ahead of President Yoon Suk Yeol‘s visit to the Czech Republic in September and to flesh out the industrial cooperation plans proposed by the Korean government in the process of winning the latest contract

The Czech Republic is reportedly highly interested in research and development (R&D) related to the semiconductor, secondary battery, and hydrogen industries, particularly showing strong intent to foster its semiconductor sector.

The delegation is also expected to tour Korea’s latest nuclear power plant facility equipped with the APR1400 reactor, which is considered a twin of the APR1000 reactor proposed by Korea, during the upcoming visit.

While countries that lost in the bidding for the Czech nuclear power project, such as the United States and France, have been raising objections to Korea winning the contract, the Czech government continues to support KHNP.

U.S. nuclear power company Westinghouse Electric Company LLC, which is currently engaged in a patent lawsuit with KHNP over reactor designs, filed a complaint with the Czech competition authority (UOHS) on Monday, local time. The ordering company, Czech state utility company CEZ, however, dismissed the complaint, stating that “objections are not possible.”

“We are striving to ensure that the lawsuit with Westinghouse does not escalate into a significant issue,” Whang said. “We hope to resolve the conflict before the main contract for the new Czech nuclear power plant is signed in March next year.”