Minister Lee Chang-yang of the Ministry of Industry promotes 'K Nuclear Power' in Czech Republic... Strengthening cooperation in nuclear power and hydrogen

Cooperation Across Industries Including SMR, Defense, Battery, and Semiconductors
Ministry of Trade, Industry and Energy: "Significance of Normalizing Nuclear Power Policy and Creating Nuclear Power Work"
MOU Signed in 10 Fields Including Korean Companies and Institutions

Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy visited the Ministry of Industry and Trade in Prague, Czech Republic, on the 28th (local time) and held talks with Jozef Sikela, Minister of Industry and Trade of the Czech Republic, exchanging views on areas of mutual interest between the two countries, including cooperation in nuclear power, industry, energy, and defense sectors.

[Asia Economy Sejong=Reporter Dongwoo Lee] Lee Chang-yang, Minister of Trade, Industry and Energy, who embarked on his first overseas business trip since taking office, visited the Czech Republic to strengthen bilateral cooperation in areas such as nuclear power, hydrogen, and defense industries. The government plans to expand the scope of cooperation to advanced industries including electric vehicles, batteries, and semiconductors, centered on nuclear power industry collaboration.

The Ministry of Trade, Industry and Energy announced on the 29th that Minister Lee met with Jozef S?kela, Czech Minister of Industry and Trade, and Milo? Vystr?il, President of the Senate, on the 28th (local time) to discuss cooperation plans between the two countries, including nuclear power.

The background of Minister Lee’s visit to the Czech Republic as his first overseas schedule is to seek new national wealth creation by restoring the competitiveness of the nuclear power ecosystem under the Yoon Suk-yeol administration amid the global reappraisal of nuclear power in response to the energy security crisis caused by the Ukraine war and carbon neutrality efforts.

The Czech Republic’s new nuclear power project aims for completion in 2036 and started the bidding process for the construction of one nuclear reactor (Dukovany Unit 5) in March. The plan is to receive bid proposals in November, select a preferred bidder in March 2024, and sign the final contract in December of the same year. Furthermore, the Czech Republic is considering constructing up to three additional nuclear reactors at Dukovany and Temel?n, raising expectations that this contract will serve as a foothold for Korean nuclear power’s entry into Eastern European countries.

At the meeting, Minister Lee stated, "The new Korean government plans to increase the utilization of nuclear power to strengthen carbon neutrality and energy security," adding, "Nuclear power projects are long-term endeavors involving over 10 years of construction and more than 60 years of operation, and Korea is a reliable partner that can guarantee economic feasibility, schedule compliance, and safety." He also emphasized that this has been globally verified through the UAE Barakah project.

Minister S?kela reportedly responded that, like Korea’s new government nuclear policy, the Czech government also considers nuclear power an important means in its energy policy. He expressed pleasure at Korea’s participation in the bidding and particularly mentioned high regard for Korea’s technological capabilities demonstrated in the UAE.

Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy and Jozef Sikela, Minister of Industry and Trade of the Czech Republic, attended the signing ceremony of the "Korea-Czech Industrial Partners Cooperation MOU for Establishing a Hydrogen Mobility Ecosystem," held on the 28th (local time) at the Ministry of Industry and Trade in Prague, Czech Republic. The ceremony was also attended by Moon Jae-do, Chairman of the Hydrogen Convergence Alliance (H2KOREA), and Martin Paider, Vice Chairman of the Czech Hydrogen Association (HYTEP), to promote information exchange in the hydrogen sector, hydrogen mobility manufacturing and demonstration, and hydrogen refueling infrastructure development.

Strengthening Cooperation Across Industries Including SMR, Defense, Battery, and Semiconductor

The ministers of both countries agreed on early commercialization and joint global market entry through cooperation in the field of Small Modular Reactors (SMR), a new type of nuclear power. In particular, they reached consensus on the need to expand bilateral cooperation in hydrogen production, transportation, and utilization linked to nuclear power.

Additionally, based on cooperation in the nuclear power industry, they decided to expand the scope and level of cooperation to other industrial sectors such as defense, electric vehicles, batteries, semiconductors, and biotechnology. Both countries agreed to promptly conduct follow-up discussions to explore multifaceted cooperation, including research and development and joint projects in advanced fields such as hydrogen, semiconductors, and batteries, as well as the transition of the Czech Republic’s core automotive industry from internal combustion engines to electric and hydrogen vehicles.

Minister Lee also promoted the excellence of Korean nuclear power to Milo? Vystr?il, President of the Czech Senate, and sought cooperation, requesting parliamentary-level support for multifaceted industrial cooperation between the two countries in areas such as semiconductors and batteries.

In the defense industry sector, the Director of the Base Power Project Headquarters of the Defense Acquisition Program Administration, who accompanied the delegation, mentioned that defense industry cooperation between Korea and the Czech Republic is already at a considerable level and conveyed the necessity for energy cooperation, including nuclear power, and security cooperation between the two countries.

Minister Lee requested the Czech government’s interest and support for the 2030 World Expo, which Korea is seeking to host, and Minister S?kela congratulated Busan’s World Expo candidacy and expressed a friendly intention.

MOUs in 10 Fields Including Nuclear Power and Hydrogen Between Companies of Both Countries

On the same day, Minister Lee facilitated the signing of memorandums of understanding (MOUs) for cooperation between companies of both countries in nuclear power and hydrogen sectors at the 'Night of Korean Nuclear Power and Advanced Industries' event.

In his congratulatory speech, Minister Lee explained Korea’s strong commitment to participating in the Czech nuclear power project and conveyed the future development vision of bilateral industries based on nuclear power. He also emphasized again that Korea, having proven the highest safety and technological capabilities at the Barakah nuclear power plant, can be the best partner for the Czech Republic’s nuclear power construction.

The MOUs included nine agreements between private nuclear power companies of both countries covering the entire cycle of design, manufacturing, and construction in the nuclear power sector. In the hydrogen sector, 12 companies and institutions, including Korea’s H2KOREA, Hyundai Motor Company, Hyundai Glovis, and the Czech Hydrogen Technology Platform (HYTEP), signed MOUs for information exchange, hydrogen mobility manufacturing demonstration, hydrogen refueling infrastructure construction, and hydrogen production technology development demonstration.

On the 29th (local time), Minister Lee is scheduled to meet with Vojt?ch Havel??ek, Deputy Speaker of the Czech Chamber of Deputies, to convey Korea’s willingness to participate in Czech projects and the excellence of Korean nuclear power.

An official from the Ministry of Trade, Industry and Energy said, "Going forward, we plan to meticulously detail and create package cooperation plans for bilateral cooperation issues agreed upon between the two countries, centered on nuclear power, defense, and hydrogen, through the 'Nuclear Power Export Strategy Promotion Team,' thereby advancing cooperation with the Czech Republic to the next level and increasing the possibility of nuclear power exports."

Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy is touring a promotional booth presenting the future vision of industrial and energy cooperation between Korea and the Czech Republic based on nuclear power and advanced industries on the 28th (local time) at the Hilton Hotel in Prague, Czech Republic. He is accompanied by Jung Jae-hoon, President of Korea Hydro & Nuclear Power, Ehler, Deputy Minister of Industry and Trade of the Czech Republic, Moon Jae-do, Chairman of the Hydrogen Convergence Alliance, the Korean and Czech hydrogen ambassadors, and other officials and businesspeople from the nuclear power industry of both countries.