Huge export opens… Industry looking at Czech nuclear power plants

Expectations in the domestic industry are growing ahead of the announcement of the results of the Czech nuclear power plant contract worth 30 trillion won. This is because exporting Czech nuclear power plants can have a positive impact on winning orders for nuclear power plant projects in other countries in Europe. This could lead to opportunities for cooperation not only in nuclear power plants but also in other industries such as defense, hydrogen, and high-tech industries.

According to the industry on the 25th, Minister of Trade, Industry and Energy Ahn Deok-geun visited the Czech Republic for the first time since taking office the previous day. Minister Ahn plans to meet with key figures in the Czech government, including Minister of Industry Josef Sikella and Minister of Finance Zwinek Stanura, to discuss ways to strengthen cooperation between the two countries. In particular, it is expected to focus on supporting nuclear power plant orders for which Korea Hydro & Nuclear Power (KHNP) participated in the bidding.

The Czech Republic is investing about 30 trillion won to build four new nuclear power plants. Although the specific area has not been determined, there are speculations that two units will be built each in Dukovany and Temlin, where nuclear power plants are currently in operation. As Westinghouse of the United States was eliminated due to lack of qualifications, it was narrowed down to a two-way match between Korea Hydro & Nuclear Power (KHNP) and Electric Power Corporation of France (EDF).

If we succeed in winning this order, it is expected that we will gain strength in targeting other nuclear power plants markets in Europe. The nuclear phase-out policy, which has been highlighted in Europe since the Fukushima nuclear power plant accident in Japan in 2011, is gradually being phased out. Romania, Poland, the Netherlands, and the United Kingdom are working to revitalize the nuclear power plant ecosystem.

The industry predicts that nuclear power plant exports will serve as an export bridge that leads to cooperation opportunities in other fields. The government is focusing on so-called ‘package exports’ in which domestic companies, such as defense, electric vehicles, semiconductors, and biotechnology, jointly target competitive markets by winning orders for overseas nuclear power plant projects.

Korea Hydro & Nuclear Power is also planning several events in the Czech Republic to win orders. On the 12th, with the support of the Korean and Czech governments, experts from industry, academia, and research in the nuclear field of both countries were invited to the ‘Korea-Czech Republic Nuclear Research and Development (R&D) Cooperation Symposium’. KHNP delivered the Korean nuclear power plant APR1000 core simulator to the Czech Institute of Technology and presented about ‘i-SMR’, an innovative small modular reactor (SMR).

Czech Electricity Corporation (CEZ) plans to receive revised bids from Korea Hydro & Nuclear Power and EDF by the end of this month. It is expected that the final order winner will be decided by the end of June at the earliest or mid-July at the latest. France is said to have regional advantages and experience building various nuclear power plants in Europe, while Korea has excellent price competitiveness and technological capabilities.