PRAGUE/SEOUL, May 8 (Joint Press Corps-Yonhap) -- The unexpected delay in the signing of a deal to build nuclear reactors in the Czech Republic will ultimately serve as an opportunity to further strengthen bilateral relations with the European country, South Korea's Industry Minister Ahn Duk-geun has said.
Ahn made the remarks Wednesday when a South Korean consortium led by Korea Hydro & Nuclear Power Co. (KHNP) was originally scheduled to finalize the contract with Elektrarna Dukovany II (EDU II), a subsidiary of Czech's state-run utility firm CEZ. The signing of the estimated 26 trillion-won (US$18.6 billion) deal has been postponed due to a court injunction following a legal challenge by the French energy company EDF, which had lost the tender process.
"Although the contract signing was delayed due to unexpected circumstances, I believe this will serve as an opportunity to further solidify the trust between our two countries," Ahn said while meeting with reporters in Prague.
The South Korean minister and other government delegates arrived here Tuesday for the signing ceremony. He stressed that South Korea and the Czech Republic are expanding their economic ties despite the delay in the nuclear plant deal, with 14 agreements and memorandums of understanding (MOUs) signed earlier Wednesday, including key accords in the nuclear energy sector.
The minister also reiterated that the tender process had been conducted in accordance with legal standards. "In terms of transparency in the bidding process and the quality of technology, South Korea was overwhelming," Ahn said.
The KHNP-led consortium was named last week the final winner of the deal for the construction of two 1,063-megawatt (MW) nuclear reactors at the Dukovany nuclear power plant, located about 200 kilometers southeast of Prague. It was selected as the preferred bidder in July 2024. If finalized, the project would mark South Korea's first overseas nuclear plant contract since 2009, when another KHNP-led consortium secured a deal to build the Barakah nuclear power plant in the United Arab Emirates.
Ahn highlighted that the Czech Republic is considering building two additional reactors at another power plant in Temelin, and KHNP is evaluating whether to submit another bid. "This collaboration will serve as the starting point for building a long-term partnership," he added.
Returning home, Ahn told reporters at Incheon International Airport that EDF's challenge only proves South Korea's "overwhelming" competitiveness in the nuclear power plant sector. Noting that EDF claims the KHNP's business plan is economically unrealistic, Ahn argued that only goes to show the Korean consortium has a firm upper hand in the nuclear power plant market.
On concerns the KHNP may have underestimated the profitability of the Czech project, Ahn said, "Nuclear power projects are not decided solely based on cost considerations." He added, "As it is a nationally significant energy project, we have demonstrated our ability to meet deadlines and ensure internationally proven safety standards." Ahn also pointed out that many of EDF's projects across the world have been facing problems, with excessive delays in construction timelines and sharp increases in costs.
The minister said Prague has reaffirmed there were no issues in the bidding process and has officially and preemptively approved the envisioned contract with the KHNP-led consortium in a cabinet meeting to allow the sides to sign the contract immediately after the ongoing legal dispute with EDF concludes.
The governments of Korea and the Czech Republic have agreed to collaborate on a new nuclear power plant construction project worth approximately 26 trillion won. The signing of the contract for the new nuclear power plant construction between Korea Hydro & Nuclear Power and CEZ, originally scheduled for May 7, 2025, was postponed.
On May 7, 2025, Minister Ahn Duk-geun and Czech Minister of Industry and Trade Jozef Síkela signed a total of 14 agreements and memoranda of understanding (MOU) in the fields of nuclear power and advanced industries. The agreements include two government-level signings such as an agreement on nuclear industry cooperation and an MOU on battery cooperation, ten business-level signings related to the construction of new nuclear power plants, and two business-level signings on advanced industry cooperation.
In particular, the Korean and Czech governments agreed to cooperate on the successful implementation of the Czech new nuclear power plant construction project, as well as joint entry into third countries and the construction of two additional units through the nuclear industry cooperation agreement, which concretizes the MOU signed in September last year.
Through the MOU on battery cooperation, they strengthened joint responses to the European Union (EU) Battery Regulation, which will be further detailed in the future. The delegations from both countries were originally scheduled to sign the final contract for the new nuclear power plant construction on May 7. However, it was canceled when a Czech local court partially accepted the objection of Électricité de France (EDF), which lost in the bidding competition, and issued an injunction prohibiting the signing of the final contract until the main judgment of the administrative lawsuit is made.
Regarding this, Minister Ahn said, "We are grateful to the Czech government and the ordering party for conducting the largest bidding in Czech history objectively and fairly," emphasizing that there were no problems with the procedure, and added, "We plan to communicate closely with the Czech side to reach the final contract as soon as possible." Ahn emphasized, "Although an unexpected situation occurred yesterday (May 6), Korea and the Czech Republic will overcome difficulties together, and the trust between the two countries will become even stronger."
Czech Prime Minister Petr Fiala said the government would "avoid any delay of even a single day," expressing his willingness to complete all related procedures as soon as the legal obstacles are cleared. "Korean Hydro & Nuclear Power's proposal is the best in every respect and has been selected as the supplier," he said during a press conference following a meeting with South Korean Industry Minister Ahn Duk-geun and the Korean delegation.
With the Czech government’s backing, the deal is poised to move forward once CEZ’s appeal against the injunction, filed by EDF, is accepted. The project — the largest public procurement initiative in Czech history — involves building two 1,055-megawatt reactors at the Dukovany site. It marks Korea’s first nuclear export since 2009, with construction scheduled to begin in 2029 and the first reactor expected to be operational in 2036.
Ahn emphasized that the Dukovany nuclear project could serve as a springboard for the two countries to jointly expand into third-country markets. Korea is currently constructing two domestic new nuclear reactors: the Shin Hanul 3 and 4. With the additional two reactors planned for the Czech Republic and ongoing talks with other countries, Korea’s domestic ecosystem alone will not be sufficient to meet all demand, the minister explained.
“That is why we aim to leverage Czech assets — for example, turbine manufacturers like Doosan Skoda Power — and grow together as strategic partners in the global market,” Ahn said. Acknowledging the unexpected delay caused by the Brno Regional Court’s preliminary injunction, Ahn described it as purely "procedural" and not indicative of any risk of cancellation. “Once we clarify the facts to the Czech public, I believe this could become a positive turning point, especially for future projects like Temelin,” he said. “Our goal is to present Korea as the most reliable long-term partner for 50-, 60- even 100-year nuclear projects.”
