KEPCO "Cooperation with Westinghouse and Czech Republic as well as in the Global Nuclear Power Market"

Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Corporation (KEPCO) have agreed to end their intellectual property rights dispute with the U.S. company Westinghouse. The resolution of the intellectual property dispute, which was considered the biggest obstacle to the final contract for the construction of the new Dukovany nuclear power plant in the Czech Republic, is expected to significantly increase the likelihood of the final contract for the Czech nuclear power plant.

On the 16th (local time), KHNP announced that it officially ended the intellectual property rights dispute with Westinghouse and decided to strengthen cooperation in the global nuclear power market.

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

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Hwang Ju-ho, President of KHNP, said, "This agreement will serve as an opportunity to build a closer cooperative relationship between KHNP and Westinghouse," adding, "KHNP and KEPCO plan to strengthen the Korea-U.S. cooperation system and enhance competitiveness in the global nuclear power market by forming a new strategic partnership with Westinghouse."

However, the specific details of this agreement were not disclosed due to mutual confidentiality commitments. Industry insiders speculate that KHNP may have made considerable concessions, such as paying royalties or providing work to Westinghouse related to the Czech nuclear power export, and jointly promoting nuclear power exports to other third countries in the future.

Until now, Westinghouse had blocked KHNP's export of the Korean-designed nuclear reactor 'APR1400' to the Czech Republic, claiming it was based on its proprietary technology. However, with the resolution of the intellectual property rights negotiations, the final contract for the new Czech nuclear power plant export is expected to proceed smoothly.

Regarding the resolution of this dispute, An Deok-geun, Minister of Trade, Industry and Energy, stated, "This agreement, together with the 'Interagency Agreement on Korea-U.S. Nuclear Export and Cooperation Principles (MOU)' signed by the Korean and U.S. governments on the 8th, has laid the foundation for the two governments and private sectors to cooperatively and reciprocally work together in the global nuclear power market while adhering to the highest non-proliferation standards," adding, "We look forward to active cooperation between companies from both countries in the global nuclear power market in the future."

Meanwhile, the Czech Republic is promoting the construction of two new nuclear reactors in Dukovany, with the target project cost estimated to reach around 20 trillion won. KHNP, the preferred negotiation partner, is currently negotiating with the Czech side. If KHNP ultimately secures the contract for the Czech nuclear power plant construction, it will be the second nuclear power export contract in history after the Barakah nuclear power plant in the United Arab Emirates (UAE) in 2009, marking a 16-year interval.

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