Baek Jeongwan, CEO of Daewoo E&C, Heads to Czech Republic... Full Effort to Secure 30 Trillion Won Nuclear Power Plant Contract

Daewoo E&C Hosts 'Korea-Czech Nuclear Power Plant Construction Forum'
Baek Jeongwan, Daewoo E&C CEO, Leads Sales Effort In Person
30 Trillion Won Nuclear Plant, Priority Negotiation Candidate to be Announced in July

Daewoo E&C President Baek Jeong-wan (front row, left) who visited overseas construction sites last year

Baek Jeong-wan, CEO of Daewoo E&C, will head to the Czech Republic at the end of this month to secure a 30 trillion won-scale nuclear power plant project. This is seen as an all-out effort to export the ‘Korean-type nuclear power plant’ for the first time in 15 years since winning the Barakah nuclear power plant project in the United Arab Emirates (UAE) in 2009.

According to industry sources on the 17th, Daewoo E&C will host the ‘Korea-Czech Nuclear Power Plant Construction Forum’ in the Czech Republic on the 27th and 28th of this month. High-ranking officials from the Czech government and local nuclear power industry representatives will attend in large numbers. CEO Baek will preside over the event and personally lead the sales efforts. After Park Jung-won, chairman of Doosan Group, held the ‘Doosan Partnership Day’ in Prague on the 13th, CEO Baek is taking over the baton to launch an all-out bid. Daewoo E&C is participating as a member of ‘Team Korea,’ which includes Korea Hydro & Nuclear Power, Korea Electric Power Technology, and Doosan Enerbility in this nuclear power plant bidding competition.

Korea Hydro & Nuclear Power submitted the final bid to the Czech Electricity Company on the 29th of last month. If the Czech nuclear power plant project is secured, Daewoo E&C will serve as the main construction contractor. A Daewoo E&C official stated, “Our role is to build the nuclear power plant buildings and manufacture the main equipment,” adding, “We have been continuously building networks locally in the Czech Republic for the past three years and have promised on-site employment to residents of the Dukovany area where the plant will be constructed, creating a favorable atmosphere.”

In April, Baek Jeong-wan, CEO of Daewoo E&C (left), and Seo Jeong-uk, CEO of T?V S?D Korea, attended the award ceremony for the Nuclear Supply Chain Quality Management System (ISO19443) certification.

CEO Baek plans to emphasize Daewoo E&C’s nuclear power technology at the ‘Korea-Czech Nuclear Power Plant Construction Forum.’ Last month, Daewoo E&C became the first domestic construction company to receive the ‘Nuclear Supply Chain Quality Management System (ISO19443)’ certification to support its bid for the Czech nuclear power plant project. This certification, issued by the European global certification body T?V S?D, recognizes enhanced safety and quality across the entire nuclear supply chain. Since major European nuclear power operating countries require this certification, Daewoo E&C obtained it in advance to prepare for this bidding competition.

The nuclear power plant bidding competition will be a one-on-one contest between Team Korea and the French Electric Power Company (EDF). Korea previously competed against France in the Barakah nuclear power plant bidding and won. If Team Korea secures the Czech nuclear power plant project, two nuclear reactors with a capacity of 1,200 megawatts (MW) each will be constructed in the Dukovany and Temel?n regions in southern Czech Republic. The Czech side plans to select a preferred negotiation partner in July and finalize the project operator by the end of the year. Construction is targeted to begin in 2029, with commercial operation planned for 2036.

An industry official explained, “The nuclear power plant project itself involves a large contract amount, but continuous profits can be earned through maintenance and repair businesses after construction,” adding, “Following the Russia-Ukraine war, the issue of ‘energy security’ has emerged in Europe, ending the global nuclear power plant dark age that lasted more than 10 years since the Great East Japan Earthquake. As a result, Korean nuclear power companies have gained an opportunity to enter the Eastern European nuclear power market.”