The Czech Republic selected on Wednesday the 19th f July Korea Hydro and Nuclear Power (KHNP) as the preferred negotiation partner for the construction of two new nuclear power plants in the Czech Republic, with the option for two additional units. The project, estimated at $17.4 billion for the initial two units, marks the largest investment in Czech history and KHNP’s first nuclear export to Europe.

KHNP will form a consortium with other South Korean firms to supply the APR1000 reactor design and all related construction services. The company aims to conclude a final contract by March 2025 following detailed negotiations.

The successful bid will also likely lead to improved political and economic ties between South Korea and the Czech Republic, potentially opening doors for further cooperation with other European countries. As the European Union seeks to reduce its dependence on Russian energy and move toward carbon neutrality, the demand for South Korea’s advanced nuclear technology and construction expertise may increase.

Delivered by CzechTrade team Canada.
Source: Korea Pro.