On July 10, South Korean President Yoon Suk Yeol attended bilateral meetings with the Czech Republic, Sweden, the Netherlands, and Finland in Washington D.C. to discuss nuclear power cooperation on the sidelines of the NATO summit.
Regarding the Czech nuclear power project, which is set to be decided within this month, Yoon urged Czech President Petr Pavel to award the contract to Korean companies.
Park Chun Sup, Presidential Senior Secretary for Economic Affairs, stated in a briefing at the local press center in Washington, “Yoon discussed new nuclear power cooperation with leaders of the Czech Republic, the Netherlands, Sweden, and Finland.”
Park said, “Yoon highlighted South Korea’s top-tier construction capabilities and superior price competitiveness to Pavel,” adding, “He emphasized that South Korea as the project operator could significantly contribute to the development of the Czech nuclear sector, with financial support available through the Export-Import Bank of Korea and the Korea Trade Insurance Corporation.”
The Czech nuclear power project, which aims to build up to four large nuclear power plants, has Korea Hydro & Nuclear Power and France’s EDF competing to be the primary negotiation target.
Park indicated that the government and companies are making efforts to secure the nuclear power contract, saying, “The government has closely coordinated with Korea Hydro & Nuclear Power along with related companies under Team Korea to achieve milestone 15 years after the UAE Barakah Nuclear Energy Plant in 2009.”
Kim Tae Hyo, the first deputy director of the National Security Office, also noted at the briefing, “Yoon discussed cooperation in infrastructure sectors such as nuclear power and high-speed rail with Pavel, where our companies are actively advancing,” adding, “Yoon requested the Czech government’s interest and support for our technologically advanced and competitive companies to participate in related projects.”
South Korea also plans to bid for additional nuclear power contracts in the Netherlands, Finland, and Sweden. Yoon prepared for future bidding through discussions on nuclear cooperation at this bilateral meeting.
Feasibility studies for additional nuclear power introductions are currently underway in the Netherlands and Finland. Sweden abolished its nuclear phase-out policy last August and aims to introduce at least 10 additional nuclear power plants by 2045, indicating a growing demand for nuclear power in these countries.
Park commented, “The Netherlands currently operates one nuclear power plant, Finland operates five, and Sweden operates six,” adding, “At the summit with these countries, we agreed to strengthen cooperation in nuclear power projects.”
