8 Trillion Won Czech Nuclear Power Plant Contract Battle... Korea, USA, and France Enter Three-Way Competition

CEZ, KHNP Sends Security Assessment Notification Letter for Dukovany Nuclear Power Project

Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy (second from the left in the photo) and Jung Jae-hoon, President of Korea Hydro & Nuclear Power, attended the signing ceremony of the "MOU for Strengthening Cooperation in Nuclear Power and Advanced Industries between Korea and the Czech Republic" held at the Czech Ministry of Industry and Trade on the 18th (local time).

[Sejong=Asia Economy Reporter Kwon Haeyoung] The bidding competition for the new nuclear power plant project in the Czech Republic, worth 8 trillion won, has officially begun. With Russia, a major competitor, eliminated, the competition has narrowed down to a three-way race among Korea, the United States, and France. Korea Hydro & Nuclear Power (KHNP) has launched a full-scale sales campaign for the Czech nuclear power plant based on its experience exporting the Barakah nuclear power plant to the United Arab Emirates (UAE).

According to KHNP on the 25th, it recently received a security evaluation guidance letter from the Czech Electricity Company for the new Dukovany nuclear power plant project in the Czech Republic.

On the same day, the Czech Republic sent identical letters to Korea, the United States, and France. This marks the start of the security evaluation process, which is part of the selection procedure for the project operator to officially advance the Dukovany new nuclear power plant project. Through this security evaluation, the Czech side requested information on security requirements such as cybersecurity, supply conditions for security items, and European Union (EU) sanctions status, as well as reference projects of suppliers, bidding participation organizational structure, key subcontractor information, quality control, and permits. These are practically at the level of a main bid.

Since this evaluation is an important procedure equivalent to a qualification review, KHNP plans to focus on demonstrating that it is the optimal potential supplier meeting the Czech Republic’s national interests and security requirements.

Jung Jae-hoon, President of KHNP, stated, "Based on our accumulated domestic and international technology and experience, we will not only meet the security requirements demanded by the Czech Republic but also continuously demonstrate that Korea is the optimal partner in all aspects that the Czech Republic values, including localization, safety, economic feasibility, and schedule compliance, to secure the new nuclear power plant project in the Czech Republic."

The Czech government plans to receive security evaluation responses from each potential supplier by the end of November, complete the evaluation by the end of this year, and decide on the suppliers participating in the main bid. Subsequently, the official bidding process will begin in 2022, with the preferred negotiation candidate selected by 2023.

The government has also rolled up its sleeves to win the Czech new nuclear power plant project. From the 17th to 18th, a government delegation including Moon Seung-wook, Minister of Trade, Industry and Energy, and KHNP visited the Czech Republic, met with the Czech Prime Minister, and held talks with the Minister of Industry to explain the excellent technology of Korean nuclear power plants. In particular, President Jung actively engaged in new nuclear power plant bidding activities by meeting with key government figures such as the leader of the Czech opposition party and members of the Nuclear Energy Standing Committee.

KHNP has been continuously conducting activities to raise awareness of Korean nuclear power plants, including volunteer work near the planned Czech nuclear power plant site, support with quarantine supplies and various goods, and sponsorship of an ice hockey team. It is also strengthening cooperative relationships by establishing strategic partnerships with local companies.

This content was produced with the assistance of AI translation services.