President Yoon's Visit Significantly Strengthens Bilateral Cooperation
Nuclear Alliance Established... Expansion of Advanced Industry Collaboration
Westinghouse Consensus: 'No Issues'
Increased Exchange Between Korean and US Companies in Bio, Digital, and Transportation Sectors
President Yoon Suk-yeol shakes hands with Czech President Petr Pavel after a joint press conference between South Korea and the Czech Republic at Prague Castle on the 19th (local time). [Image source=Yonhap News]
Taking advantage of President Yoon Suk-yeol's visit to the Czech Republic, South Korea and the Czech Republic have agreed to actively cooperate beyond nuclear power to advanced industries and diplomacy. Marking a new phase in bilateral relations, the two countries have taken a step forward ten years after establishing a 'strategic partnership.' In particular, President Yoon and President Petr Pavel agreed to explore concrete cooperation plans in areas such as digital technology, transportation, and Ukraine reconstruction, raising expectations for more active business ventures between the two countries in the future.
During the summit held on the 19th (local time) at Prague Castle, President Yoon and President Pavel reached a consensus on the final contract for the Dukovany nuclear power plant construction project, for which 'Team Korea,' including Korea Hydro & Nuclear Power, was selected as the preferred bidder. At the joint press conference, President Yoon stated, "If the contract is signed and construction proceeds, all procedures from design to construction will be carried out together with the Czech Republic." In response, President Pavel expressed optimism about the final contract.
Kim Tae-hyo, the first deputy director of the National Security Office, conveyed at a briefing held at the local press center that President Pavel said, "The Czech Republic has high expectations for Korea's participation in the Dukovany nuclear power plant project," and "We are optimistic about Korea Hydro & Nuclear Power's final contract award and will work together to make this project a new foundation for the development of bilateral relations." In particular, President Yoon expressed his expectations, saying, "This can truly establish a nuclear alliance."
Although the American nuclear company Westinghouse raised objections to 'Team Korea's' nuclear power plant bid by claiming patent rights, the two leaders agreed that the issue would be resolved amicably. President Yoon said, "I am confident that this issue can be resolved well, as it was with the Barakah nuclear power plant in the United Arab Emirates (UAE)," while President Pavel said, "We are, of course, considering bad scenarios, but the likelihood is not very high." In an interview with Arirang TV released that day, President Pavel also stated regarding nuclear cooperation with Korea, "We still regard Korea's proposal as the best by all evaluation criteria," and added, "I believe there is a high possibility of expanding not only the Dukovany project but also to other European countries, especially Central and Eastern European countries."
President Yoon Suk-yeol is holding a joint press conference with Czech President Petr Pavel at Prague Castle, Czech Republic, on the 19th (local time). [Image source=Yonhap News]
Through this visit, the two countries also agreed to explore concrete cooperation plans in areas beyond nuclear power. Bio, digital, transportation infrastructure, future cars, and batteries are representative fields. President Yoon said, "Building nuclear power plants together means that the strategic cooperation between the two countries is taking a step forward," and added, "Cooperation in advanced science and technology fields will also expand further." Visible results are expected in areas such as high-speed rail promoted by the Czech government.
In particular, the two leaders strengthened cooperation in diplomacy and security. Deputy Director Kim said, "A memorandum of understanding (MOU) on cooperation for Ukraine reconstruction was signed between the foreign ministries of the two countries, and following the meeting with Prime Minister Petr Fiala, an MOU is also scheduled to be signed between the Ministry of Land, Infrastructure and Transport and the Czech Ministry of Transport." President Yoon said, "The two governments will actively support Korean and Czech companies wishing to participate in Ukraine's sectoral reconstruction projects to promote concrete cooperation such as sharing business information, joint project development, and attracting joint investment."
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