President Yoon Suk Yeol is ready to go to the Czech Republic this week to solidify South Korea’s bid to win a significant nuclear power undertaking and deepen financial ties with the European nation.
Yoon will embark on a four-day journey on Thursday for talks with Czech President Petr Pavel and Prime Minister Petr Fiala to broaden cooperation in nuclear power, commerce, funding, know-how and different areas.
The go to comes two months after a consortium led by Korea Hydro & Nuclear Energy was chosen as a most popular bidder to construct two nuclear energy models on the Dukovany website. It marks the primary official go to by a South Korean president to the nation in practically 9 years.
Yoon’s journey goals to reaffirm Seoul’s dedication to the profitable implementation of the Czech nuclear undertaking, which is anticipated to choose a remaining winner by the primary quarter of 2025, and lay the groundwork for forging a “nuclear power alliance” between the 2 nations, in line with his workplace.
“The go to plans to give attention to securing the Czech Republic’s cooperation and help to make sure that the Czech nuclear energy plant building undertaking proceeds easily till the ultimate contract is signed subsequent yr,” Park Chun-sup, a senior presidential secretary for financial affairs, mentioned in a briefing final week.
The deal, estimated at round 24 trillion received ($17.3 billion), will mark South Korea’s second nuclear energy plant export, following its 2009 undertaking within the United Arab Emirates.
Yoon shall be accompanied by a delegation of officers from the nuclear power sector to discover alternatives of cooperation within the full nuclear power cycle encompassing building, design, operation, nuclear gasoline and spent gasoline administration, Park mentioned.
Throughout his go to, Yoon is scheduled to journey to Plzen, an industrial metropolis situated about 90 kilometers from Prague, to examine nuclear power contractors, and attend a bilateral enterprise discussion board with leaders from Samsung Electronics, Hyundai Motor, SK Group and LG Group.
The 2 sides plan to signal a number of agreements geared toward boosting cooperation in superior know-how, together with next-generation autos, batteries, hydrogen and robotics, and focus on collaboration in rebuilding infrastructure in Ukraine, the workplace mentioned.
Commerce between South Korea and the Czech Republic has grown steadily because the institution of diplomatic relations in 1990. As of 2023, South Korea is the fourth-largest investor within the Czech Republic, with over 100 Korean corporations working within the nation. (Yonhap)
