In July 2024, Czechie selected the South Korean Public Services Company, Korea Hydro & Nuclear Power (KHHNP), as The favorite tenderer To build new nuclear reactors. Khnp was chosen to direct the construction of three nuclear reactor units in Dukany and Temelinprojects valued at About $ 17.3 billion. This selection was unexpected as ELECTRATICS OF FRANCE (EDF) The European nuclear energy sector has long dominated. Finalization an agreement is expected in March 2025
The Cheche is now the second successful offer of South Korea abroad in the nuclear energy sector, After building the Barakah nuclear power plant to water. However, this agreement is the first nuclear power plant agreement in South Korea in Europe. This agreement marks a transition to the global energy market and opens up a new opportunity for Czech and South Korea.
Any nuclear energy project is closely linked to political and economic issues. In the era of the climate crisis, the reduction of carbon emissions is a key problem to fight against climate change and its consequences. The Cheche has decided to eliminate coal by 2033 to reduce carbon emissions, and the decision to build new nuclear power plants is part of A quarter of the Cheche to new energy sources. The Prime Minister of the Cheche, Petr Fiala, revealed that the Chechy should Find a solution to provide secure energy supplies at a reasonable price.
In addition, geopolitical problems have been taken into account in the Cyon’s decision to develop new nuclear power plants. Due to the Ukrainian war, energy security is an urgent problem, especially in Eastern Europe where Russian oil and gas were important before 2022. According to Fiala, the Cheche chose to invest in nuclear energy A strategy to advance energy security And achieve the objectives of the international climate.
Since the Ukraine War, nuclear energy has found his momentum As a reliable energy source in Europe. The South Korean government, which has promised to export 10 additional nuclear power plants By 2030, wishes to enjoy. Winning Chechie’s offer is an important opportunity to build the reputation of the South Korean nuclear industry on the European nuclear market. The nuclear project should Bring advantages to the Czech economy With the participation of Czech companies. In addition, the two countries will cooperate for New investments and trade relations beyond this agreement.
South Korea seems to be on the verge of moving forward as a global nuclear exporter after obtaining its first new nuclear project abroad since 2009. However, the agreement with the CNOCOSE has not yet been finalized, and South Korea faces several challenges on the coming road.
First, an American company challenged the successful Khnp offer, appealing in August 2024. Westinghouse said that the ARP-100 ARP-100 reactor technology could not be transferred to a third party without his permission. According to Westinghouse, Khnp based its offer on owner technology, that the Korean company does not have the right to transfer and sub-divisions.
The Legal Battle started in October 2022 when Westinghouse filed a complaint against Khnp and his parent company, the Korea Electric Power Corp (Kepco). The problem was only intensified after KHNP was successfully selected as a favorite tenderer for the Cyonia nuclear reactors. Fortunately, Westinghouse and Khnp / Kepco reaches a regulation In their dispute in intellectual property in January, allowing “two parts to go ahead with certainty in the pursuit and the deployment of new nuclear reactors” – probably including the Czechia project.
Another problem that could complicate the chest agreement is the internal political disorders of South Korea. On December 3, 2024, President Yoon Suk-Yeol declared martial law; He was then dismissed and arrested for accusations of insurrection. While South Korea awaits the final decision of the Constitutional Court of the dismissal of Yoon, the country’s nuclear industry is at stake. As president, Yoon supervised a major push to promote nuclear energy, but the leaders of the Democratic Party of the opposition – including the predecessor of Yoon as well as the DP candidate to succeed Yoon – are decidedly anti -nuclear.
However, the Cheche said that the construction of nuclear power plants will not be affected by the South Korea political crisis.
The Nuclear Agreement in South Korea marks a significant change in the global energy order, in particular in Europe. The two parties have shown a clear political will to advance the agreement, already overcoming several obstacles. This partnership opens up a new phase on the global nuclear market. In the midst of Western domination in the nuclear industry, South Korea has obtained a springboard to improve its major exporter status on the world nuclear energy market.