President of Korea Hydro & Nuclear Power Visits Czech Republic and Poland... Targeting the '48 Trillion' Nuclear Power Market

Published 21 Sep.2022 11:05(KST)

President Hwang Ju-ho Travels to Eastern Europe... Meets with Czech Minister of Industry and Others

Hwang Ju-ho, President of Korea Hydro & Nuclear Power (second from the left), is meeting with Josef Sikela, Minister of Industry of the Czech Republic, on the 19th.
[Photo by Korea Hydro & Nuclear Power]

[Asia Economy Sejong=Reporter Lee Jun-hyung] Hwang Ju-ho, President of Korea Hydro & Nuclear Power (KHNP), visited the Czech Republic and Poland, which are pursuing new nuclear power projects, just one month after his inauguration.

KHNP announced on the 21st that President Hwang visited the Czech Republic and Poland consecutively from the 19th to the 20th to engage in nuclear power plant contract activities. The Czech Republic and Poland are each promoting new nuclear power plant construction projects worth 8 trillion won and 40 trillion won, respectively. President Hwang met with high-ranking local officials such as Josef Sikela, Minister of Industry of the Czech Republic, and Bergetz, the plenipotentiary representative of Poland's Power and Energy Infrastructure, to explain the safety and economic feasibility of Korean nuclear power plants.

President Hwang also introduced the Yoon Seok-yeol administration's nuclear power policy. He explained recent domestic trends such as the resumption of construction of Shin Hanul Units 3 and 4, the launch of the Nuclear Power Export Strategy Promotion Committee, and the government's commitment to supporting nuclear power exports. He also discussed nuclear cooperation plans, including the development of innovative Small Modular Reactors (SMRs) and joint entry into new nuclear power projects in third countries.

Government officials from the Czech Republic and Poland highly evaluated not only Minister of Trade, Industry and Energy Lee Chang-yang but also President Hwang for visiting their countries within a month of taking office and showing commitment to new nuclear power projects. Previously, Minister Lee had chosen the Czech Republic and Poland as his first business trip destinations in June. The Czech and Polish sides reportedly responded by expressing hope that the success of Korea's first exported nuclear power plant, the Barakah Nuclear Power Plant in the United Arab Emirates (UAE), would be continued in their countries.

Meanwhile, KHNP will submit a bid for the new nuclear power project to the Czech government in November. The Czech side plans to select a preferred negotiator in 2024 and finalize the contract. The Polish government plans to select one supplier among KHNP, Westinghouse (USA), and ?lectricit? de France (EDF) through an intergovernmental agreement possibly within this year.

President Hwang said, "Based on Korea's technology, which has built and operated nuclear power plants for decades, I will work tirelessly on the ground to ensure that we win the new nuclear power projects in the Czech Republic and Poland."