Korea-Czech Ministerial Energy Dialogue... Final Support for 20 Trillion Won Dukovany Contract

2nd Supply Chain and Energy Dialogue
An Deokgeun: "Expanding Trade and Investment Between the Two Countries"
'Intellectual Property Resolution' Signals Green Light for Final Contract by March

The Korean government has activated a ministerial-level energy dialogue channel between the two countries to provide full-scale final support for securing the contract for the construction of a new nuclear power plant in the Czech Republic, valued at 20 trillion won, with the final contract scheduled for next month.

The Ministry of Trade, Industry and Energy announced that Minister An Deok-geun held the 2nd Supply Chain and Energy Dialogue (SCED) with Luk?? Bl?ha, Czech Minister of Industry and Trade, in Seoul on the 17th.

Anduk Geun, Minister of Trade, Industry and Energy. (File photo)

SCED is a cooperation channel aimed at strengthening the strategic partnership between Korea and the Czech Republic in the industrial and energy sectors. The first meeting was held last September in Prague to establish a comprehensive economic cooperation foundation between the two countries across industry, trade, and energy, including nuclear power. The 2nd SCED meeting was held to review cooperation in trade, investment, supply chains, advanced industries, carbon-free energy, and nuclear power, and to discuss future cooperation measures in depth.

In the areas of trade, investment, and supply chains, amid the global intensification of protectionism, the two countries shared responses to supply chain crises and explored ways to expand trade volume between them. In the advanced industries sector, they discussed plans to establish cooperation centers in three core areas: batteries, future vehicles, and robotics. Additionally, a memorandum of understanding (MOU) on semiconductor cooperation was signed to establish a foundation for semiconductor research and development (R&D) and workforce training. Regarding carbon-free energy, the Korean government shared energy efficiency policies in industry, energy, and transportation sectors and agreed to strengthen cooperation in clean hydrogen technology development between the two countries. Furthermore, in the nuclear power sector, Korea’s smooth progress in contract negotiations according to the set schedule and procedures was acknowledged, and cooperation plans such as joint R&D and workforce training in nuclear power were discussed.

Minister An said, "I hope to expand trade and investment between the two countries and further develop comprehensive cooperation in various fields such as advanced manufacturing, supply chains, and energy." He added, "I hope the final contract for the construction of the Dukovany new nuclear power plant will be smoothly concluded, and that the close relationship between the two countries will advance to a completely new level."

Dukovany Nuclear Power Plant in the Czech Republic. (File photo)

Meanwhile, the Czech Republic is promoting the construction of two new nuclear power plants in Dukovany. The estimated project cost is expected to reach around 20 trillion won. Korea Hydro & Nuclear Power, the preferred bidder, is currently conducting detailed negotiations with the Czech client for the final contract, with a deadline set for March this year. Recently, the legal dispute with the U.S. company Westinghouse was resolved, raising expectations for a higher possibility of final contract award.

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