Ministry of Trade, Industry and Energy

Trade, Industry and Energy Minister Dukgeun Ahn held talks with Czech Republic Ambassador to Korea Ivan Jančárek on July 22 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul and expressed appreciation over the Czech government’s selection of Korea Hydro & Nuclear Power (KHNP) as the preferred bidder to build new nuclear reactors in the Czech Republic and requested that the two countries closely cooperate for a successful project execution.

KHNP was announced as the preferred bidder of the Czech Republic’s reactor project on July 17, which will be Korea's first nuclear power plant project since the state-run energy corporation won the United Arab Emirates (UAE)’ Barakah Nuclear Power Plant in 2009. The largest investment in Czech history, this new reactor project is expected to serve as a springboard for Korea’s entrance into nuclear power plant markets across Europe.

During talks with Ambassador Jančárek, Minister Ahn stated that the Czech government’s fair bid process and rational evaluation have once again highlighted the prowess of Korea’s nuclear industry worldwide, “reaffirming the two countries’ 34 years of trust-building since the establishment of diplomatic ties.” He suggested that Korea and the Czech Republic aim to establish a singular nuclear ecosystem in line with President Yoon Suk Yeol’s vision for the joint construction of nuclear reactors, asking for concerted efforts to foster a cooperative system that incorporates collaboration in all areas, including talent nurturing, technology development, joint entry into third countries, and small modular reactors (SMRs). 

Minister Ahn underscored that the Czech Republic is a key economic partner to Korea, noting how bilateral trade has continued to expand (USD 4.4 billion in 2023) since their relations were elevated to a strategic partnership in 2015. In view of next year marking the two countries’ 35th anniversary of the establishment of diplomatic relations, he expressed anticipation towards the Korea-Czech Republic partnership advancing to a whole new level through a deeper and more extensive economic cooperation in not only nuclear reactors, but also in advanced industries, technology, and transport infrastructure.

The minister remarked that efforts will be made for a comprehensive and across-the-board economic cooperation with the Czech Republic based on this nuclear power plant project, as well as for maintaining an intergovernmental communication channel for negotiating project issues with regard to inking the contract. At the meeting, active support for the two countries’ economic cooperation was pledged by representatives of Korea’s six major economic groups, including the Korea Chamber of Commerce and Industry (KCCI), Federation of Korean Industries (KFI), Korea International Trade Association (KITA), Korea Federation of SMEs (KBIZ), Federation of Middle Market Enterprises of Korea (FOMEK), and Korea Enterprises Federation (KEF).