SEOUL, July 25 (Yonhap) — The industry ministry on Thursday pledged governmentwide support for a multibillion-dollar deal with the Czech Republic to build two nuclear reactors in the European nation.
Second Vice Industry Minister Choe Nam-ho made the remark at a meeting with senior officials from finance, foreign and science ministries, as well as state-run banks and trade promotion agency, ministry officials said.
Last week, Korea Hydro & Nuclear Power (KHNP) was selected as the preferred bidder to build the nuclear reactors, estimated at 24 trillion won (US$17.3 billion), in the Czech Republic, marking the nation’s first overseas nuclear plant project since 2009.
This undated file photo provided by Daewoo Engineering & Construction Co. shows the power plant in Dukovany, located around 200 kilometers south of Prague. (PHOTO NOT FOR SALE) (Yonhap)
“All ministries and organizations should make joint efforts under the spirit of Team Korea to restore the country’s nuclear energy industry and foster the sector as an export engine,” Choe said.
During the meeting, the government said it will collaborate closely with businesses to complete the remaining negotiations with the Czech Republic, aiming for mutually beneficial results.
The government added it plans to establish a hotline to facilitate discussions with the private sector on related issues.
South Korea will also utilize international events, including the 2025 Asia-Pacific Economic Cooperation summit to be held domestically, to showcase the country’s competitiveness in the nuclear energy industry and boost related exports.
The country plans to develop a long-term road map for the nuclear energy industry by the end of this year as well, while expanding comprehensive cooperation with key partners, including the United States, to discuss joint nuclear projects, supply chain issues and small modular reactors.
In this photo provided by Korea Hydro & Nuclear Power, South Korean and Czech officials pose together in Prague on July 24, 2024 (Czech time). (PHOTO NOT FOR SALE) (Yonhap)
In a separate statement, KHNP said it has launched follow-up negotiations with Elektrarna Dukovany II, a subsidiary of the state-run CEZ Group that initiated the construction project, in Prague on Wednesday (Czech time).
KHNP added it plans to communicate closely with its Czech counterpart to sign an official contract in March next year.
colin@yna.co.kr
(YONHAP NEWS)