Korea Hydro & Nuclear Power (KHNP) is intensifying its efforts to secure a $30 billion contract for the construction of a new nuclear power plant in the Czech Republic. This ambitious project is part of the Czech government's plan to build up to four nuclear power plants, each with a capacity of 1,200 MW, to enhance energy security and reduce carbon emissions.
KHNP CEO Hwang Joo-ho visited the Czech Republic on June 12 (local time), marking the company's third visit to the country this year. During his visit, CEO Hwang met with Czech Minister of Industry Jozef Sikela to discuss the potential collaboration. "KHNP can build the nuclear power plant on time within the given budget," Hwang assured, emphasizing the company's commitment and capabilities.
The visit was part of a series of strategic moves by KHNP to strengthen its position in the competitive bidding process. In January, KHNP held a briefing session for the Czech media to outline its proposal and capabilities. This was followed by the submission of its final bid for the project on April 29.
On June 13 (local time), the “Korea-Czech Nuclear and Cultural Exchange Day” event was held at Zofin Palace in Prague, attracting over 400 attendees, including representatives from the Nuclear Safety and Security Commission, the Korean Embassy in the Czech Republic, the Czech Ministry of Industry, the Czech Industry Federation, the Korea-Czech Future Forum Chairman, the Czech Construction Association Chairman, KEPCO Engineering & Construction, KEPCO KPS, KEPCO Nuclear Fuel, Doosan Enerbility, Daewoo E&C, the Korea Atomic Industrial Forum, and the Korea Nuclear Export Industry Association. The event aimed to foster cultural and industrial ties between the two nations. "KHNP is the optimal partner for the Czech Republic," Hwang stated during the event, highlighting the company's extensive experience and technological prowess.
The following day, CEO Hwang visited Trebic, where he extended the sponsorship period for the local ice hockey team, a relationship that has been ongoing for seven years. This move underscores KHNP's commitment to community engagement and corporate social responsibility (CSR) in the Czech Republic. KHNP has also been conducting global volunteer activities in the country annually since 2017.
The Czech government is expected to select the preferred bidder for the nuclear power plant project next month. KHNP faces stiff competition from Electricité de France (EDF), another major player in the global nuclear energy sector. "KHNP will do its utmost to be selected as the preferred bidder for the Czech new nuclear power plant project based on its excellent construction and project management capabilities," CEO Hwang declared.
The Czech Republic's reliance on nuclear power as a significant part of its energy mix, coupled with its goals for energy security and carbon emission reduction, makes this project crucial for the country's future. The economic implications of the project, including job creation and long-term energy cost benefits, are significant.
KHNP's global presence and expertise in constructing and managing nuclear power plants, both domestically and internationally, position it as a strong contender. The company's track record in safety standards and project management further bolsters its bid.
As the Czech government prepares to make its decision, the outcome of this bidding process will have far-reaching implications for the country's energy policy and its economic and diplomatic relations with South Korea.