Seen above is Dukovany Nuclear Power Station in the Czech Republic. Courtesy of Korea Hydro & Nuclear Power
Korea Hydro & Nuclear Power (KHNP) was selected, Wednesday, as the preferred bidder for a 24 trillion won ($17.3 billion) project to build nuclear power plants in the Czech Republic, according to the state-run nuclear power plant operator.
The successful export of a Korean nuclear reactor is a landmark achievement, marking the first such contract since the 2009 agreement for the Barakah Nuclear Energy Plant in the United Arab Emirates.
The Czech government announced KHNP as the winner of the nuclear reactor export contract after a Cabinet meeting, defeating French competitor EDF.
“The latest outcome demonstrates the competitiveness of Korea's nuclear power industry on the global stage,” President Yoon Suk Yeol said. “I want to extend my heartfelt gratitude to the public, government officials, and business community for their support in achieving our latest success.”
The project involves constructing two nuclear reactors in Dukovany. The Czech government is considering building two more in Temelin later.
KHNP is cooperating with Doosan Enerbility, Daewoo E&C and several other state-run energy firms, as well as multiple Czech companies.
“With advanced technology, Korea gained the upper hand over the French firm by offering a lower price and high quality,” a ranking government official said. “The latest feat will be able to serve as a stepping stone for Korea to advance to become the world's leading nuclear plant powerhouse.”
Director of National Policy Sung Tae-yoon speaks during a media briefing at the presidential office in Yongsan District, Seoul, Wednesday, after Korea Hydro & Nuclear Power (KHNP) was selected as the preferred bidder to build nuclear power plants in the Czech Republic. Yonhap
Sung Tae-yoon, director of national policy at the presidential office, also expressed gratitude to the government of the Czech Republic.
“We highly appreciate the Czech Republic for siding with Korea in the latest project,” Sung said. “The Czech Republic said KHNP's bid was excellent in every evaluation category.”
The state-run nuclear power plant operator plans to finalize the contract by March next year and start construction in 2029, with the goal of beginning operations in 2036.
Last week, Yoon asked Czech President Petr Pavel to allow Korean firms to participate in the nuclear plant project, during their summit held on the sidelines of the NATO summit in Washington, D.C.
“Financial support is also available through the Export-Import Bank of Korea and Korea Trade Insurance Corp.,” Yoon said at that time.
Over 100 companies in Korea have employed approximately 14,000 workers and oversaw industrial infrastructure projects in the Czech Republic.
In May, Ivan Jancarek, the Czech Republic's ambassador to Korea, visited a nuclear power plant in the southeastern port city of Ulsan, and took a look at the overall operation of the facility. He is believed to have shared details with the relevant authorities in his home country.
The Korean state-owned nuclear power plant operator had emphasized that Korea is the only country capable of building high-quality nuclear power plants on time and within budget. In contrast, EDF has already pushed back the completion date for the first reactor at Hinkley Point C in the United Kingdom to 2029 from the original 2027, resulting in increased costs for the project.