President Yoon Holds Relay Summit Meetings with Leaders of 7 Countries at NATO... "Full Effort in New Nuclear Power Plant Contracts"

Nuclear Power Cooperation with Czech Republic, Netherlands, Sweden, and Finland

President Yoon Suk-yeol is shaking hands with Czech President Petr Pavel and taking a commemorative photo at the South Korea-Czech Republic summit held at the Walter E. Washington Convention Center in Washington DC, USA, during the 75th NATO summit on the 10th (local time).
[Image source=Yonhap News]

President Yoon Suk-yeol, who visited the United States to attend the North Atlantic Treaty Organization (NATO) summit, had a busy schedule on the 10th (local time) at the Washington Convention Center (WCC), holding relay summit meetings with seven countries including Japan, Germany, Canada, and the Netherlands.

In particular, President Yoon engaged in an all-out diplomatic campaign regarding new nuclear power plant cooperation with the leaders of four countries: the Czech Republic, the Netherlands, Sweden, and Finland. This was aimed at making a final push to win the bid for the construction of four new nuclear reactors in the Czech Republic, a project worth 30 trillion won, with the bid results to be announced in mid-month.

During a summit meeting with Czech President Petr Pavel, President Yoon said, "Korea and the Czech Republic have continued active high-level exchanges at various levels this year as well as last year," adding, "I am pleased that the trade volume between the two countries has steadily increased, setting new records for four consecutive years."

He continued, "I hope that Korean companies, which possess world-class construction capabilities and excellent price competitiveness, can participate in the new nuclear power plant project promoted by the Czech government," emphasizing, "I also look forward to close consultations regarding the high-speed rail construction project that the Czech Republic is pursuing." Currently, Korea Hydro & Nuclear Power has thrown down the gauntlet to win the Czech new nuclear power plant project, and positive effects on securing the project are expected through this bilateral meeting.

In response, President Pavel replied that the two countries have developed a friendly relationship as democracies sharing universal values, and based on this, he hopes to further expand practical cooperation in areas of mutual interest. President Pavel said, "I hope to expand cooperation beyond existing fields to areas such as digital technology, cyber, electric vehicle batteries, railroads, and advanced technologies."

Park Chun-seop, Chief Economic Secretary to the President, is briefing the Korean press corps at a press center set up in a hotel in Washington DC on the 10th (local time) regarding President Yoon Suk-yeol's schedule to attend the 75th NATO Summit. [Image source=Yonhap News]

Park Chun-seop, Senior Secretary for Economic Affairs at the Presidential Office, explained at a briefing held at the press center set up in Washington D.C. that President Yoon stated, "The Republic of Korea has the world's best construction capabilities and overwhelming price competitiveness," and added, "Financial support is also possible through the Export-Import Bank of Korea and the Korea Trade Insurance Corporation, so if Korea is selected as the business operator, it will greatly contribute to the development of the Czech nuclear power sector."

Senior Secretary Park said, "Our country's Korea Hydro & Nuclear Power and France's Electricit? de France (EDF) are competing until the end to be selected as the preferred negotiators," and explained, "The government has formed Team Korea to respond closely in order to achieve another great success 15 years after the Barakah nuclear power plant in the United Arab Emirates (UAE) in 2009." Currently, the Netherlands and Finland are conducting feasibility studies for additional nuclear power plant introductions, and Sweden also abandoned its nuclear phase-out policy in August last year and is promoting the introduction of at least 10 additional nuclear reactors by 2045, raising expectations for increased export opportunities in the domestic nuclear power business.

During the meeting with Swedish Prime Minister Ulf Kristersson, cooperation on critical mineral supply chains was discussed. Senior Secretary Park introduced, "In January last year, a rare earth deposit estimated at 1 million tons was discovered in Kiruna, northern Sweden, drawing attention as a new supply source of critical minerals."

President Yoon said, "On the occasion of the 65th anniversary of diplomatic relations between Korea and Sweden, please cooperate to further strengthen bilateral relations in areas such as nuclear power, defense industry, and critical minerals," and Prime Minister Kristersson responded, "We will actively cooperate to strengthen a mutually beneficial partnership in areas such as defense and nuclear power." Korea and Sweden are founding members of the 'Minerals Security Partnership (MSP),' launched in 2022.

President Yoon also held his first summit meeting with Finnish President Sauli Niinist?, exchanging views on ways to enhance cooperation between the two countries and on regional and global security issues. President Yoon said, "Marking the 50th anniversary of diplomatic relations last year, the two countries have become partners sharing core values such as liberal democracy, market economy, and human rights," adding, "I hope to expand mutual cooperation in various fields such as defense and nuclear power in the future."

In response, President Niinist? said, "I am pleased to have my first summit meeting with President Yoon since taking office in March," emphasizing, "Let us work together to further strengthen cooperation between the two countries, and I will actively cooperate to strengthen Korea-Finland relations going forward."

Attending the bilateral meetings were Foreign Minister Cho Tae-yul, National Security Office Director Jang Ho-jin, Senior Secretary for Economic Affairs Park Chun-seop, Senior Secretary for Public Relations Lee Do-woon, First Deputy Director of the National Security Office Kim Tae-hyo, and Diplomatic Secretary Lee Chung-myeon.

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