S. Korea, Czech Republic will collaborate on nuclear reactor design, construction: Yoon

Prague, Sep 20 (IANS) South Korean President Yoon Suk Yeol has said that his country and the Czech Republic will collaborate on the design and construction of nuclear reactors if the Central European country picks a Korean consortium as the final winner for a nuclear power plant.

Yoon made the remark on Thursday after his summit with Czech President Petr Pavel, which is partly aimed at solidifying Korea Hydro & Nuclear Power (KHNP)’s bid to win a project to build two nuclear power plants near Dukovany, southern Czechia, after it was selected as a preferred bidder in July, Yonhap news agency reported.

“The new Dukovany nuclear power plant, to be constructed jointly by South Korean and Czech companies, will serve as a milestone in the mutual economic development and energy cooperation of both nations, further strengthening our strategic partnership,” Yoon said in a joint press conference at Prague Castle.

Pavel expressed his desire for a high level of localization in the nuclear power plant project to boost the domestic industry and create new jobs, aiming for approximately 60 per cent participation from Czech companies.

Yoon’s trip comes at a time when the project faces a legal challenge as US-based Westinghouse Electric filed an appeal with Czech authorities last month, arguing that KHNP’s reactor designs are based on its technology.

The deal, estimated at around 24 trillion won ($17.3 billion), will mark South Korea’s second nuclear power plant export, following its 2009 project in the United Arab Emirates. It is expected to be finalised by the first quarter of next year.

Yoon said Seoul and Washington both support a “smooth resolution” regarding the intellectual property rights issue, adding he is “confident” that the issue will be resolved similarly to the KHNP’s export deal with the UAE.

“Both governments share a strong consensus on nuclear power cooperation regarding intellectual property rights, and our government is actively supporting the resolution of issues between South Korean and US companies,” Yoon said.

In light of the nuclear project, Yoon said the two sides agreed to expand cooperation in various fields, including advanced technology, energy security and climate responses as well as bio, digital, transportation and infrastructure.

During the summit, Yoon and Pavel expressed concerns over the growing military ties between North Korea and Russia amid the ongoing war in Ukraine.

“North Korea will gain nothing from its reckless and irrational provocations that threaten peace and stability,” Yoon said. “We reaffirmed that the illegal military cooperation between Russia and North Korea, which violates UN Security Council resolutions, is a serious threat to international peace and security.”

On the sidelines of the summit, the two countries signed a memorandum of understanding on collaboration for humanitarian aid and reconstruction of Ukraine.

“Both governments will actively support the cooperation between companies from the two countries, including sharing business information, project development and attracting investment, as part of Ukraine’s reconstruction efforts,” Yoon said.

–IANS

int/sha