Yoon to visit Czech Republic with focus on nuclear energy cooperation

President Yoon Suk Yeol is set to visit the Czech Republic this week to solidify South Korea’s bid to win a major nuclear energy project and deepen economic ties with the European nation.

Yoon will embark on a four-day trip on Thursday for talks with Czech President Petr Pavel and Prime Minister Petr Fiala to expand cooperation in nuclear energy, trade, investment, technology and other areas.

The visit comes two months after a consortium led by Korea Hydro & Nuclear Power (KHNP) was selected as a preferred bidder to build two nuclear power units at the Dukovany site. It marks the first official visit by a South Korean president to the nation in nearly nine years.

“The visit plans to focus on securing the Czech Republic’s cooperation and support to ensure that the Czech nuclear power plant construction project proceeds smoothly until the final contract is signed next year,” Park Chun-sup, a senior presidential secretary for economic affairs, said in a briefing last week.

The deal, estimated at around 24 trillion won (US$17.3 billion), will mark South Korea’s second nuclear power plant export, following its 2009 project in the United Arab Emirates.

Yoon will be accompanied by a delegation of officials from the nuclear energy sector to explore opportunities of cooperation in the full nuclear energy cycle encompassing construction, design, operation, nuclear fuel and spent fuel management, Park said.

During his visit, Yoon is scheduled to travel to Plzen, an industrial city located about 90 kilometers from Prague, to inspect nuclear energy contractors, and attend a bilateral business forum with leaders from Samsung Electronics, Hyundai Motor, SK Group and LG Group.

The two sides plan to sign several agreements aimed at boosting cooperation in advanced technology, including next-generation vehicles, batteries, hydrogen and robotics, and discuss collaboration in rebuilding infrastructure in Ukraine, the office said.

Trade between South Korea and the Czech Republic has grown steadily since the establishment of diplomatic relations in 1990. As of 2023, South Korea is the fourth-largest investor in the Czech Republic, with over 100 Korean companies operating in the country.