President Yoon: "Team CheongKorea, Let's Achieve the Nuclear Power Renaissance Together" (Comprehensive)

Korea-Czech Business Forum Keynote Speech
Accompanied by Heads of 4 Major Groups... 14 MOUs Signed

President Yoon Suk-yeol is delivering the keynote speech at the Korea-Czech Business Forum held at a hotel in downtown Prague, Czech Republic, on the 20th (local time). [Image source=Yonhap News]

President Yoon Suk-yeol stated on the 20th, "In July, we received the joyful news that 'Team Korea' was selected as the preferred negotiator for the new nuclear power plant construction project in the Czech Republic. Now, let's move beyond 'Team Korea' to become 'Team Czech-Korea' and achieve a 'nuclear renaissance' together."

During his official visit to the Czech Republic, President Yoon attended the 'Korea-Czech Business Forum' held at a hotel in downtown Prague, where he encouraged business leaders who have driven the development of bilateral relations. The forum was jointly hosted by the Korea Chamber of Commerce and Industry, the Czech Chamber of Commerce, and the Czech Industrial Association to explore the vision for economic cooperation between the two countries.

In his keynote speech, President Yoon explained, "Before Korea and the Czech Republic even established diplomatic relations, the 'Korea-Czech Economic Cooperation Committee' was launched in 1989, initiating exchanges between the business communities of both countries. Now, 35 years later, Korean and Czech engineers are jointly manufacturing Hyundai Motor vehicles in Nosovice, Czech Republic, exporting to 74 countries."

President Yoon emphasized, "We must leverage the momentum of cooperation in the nuclear power sector across the entire industry." He announced plans to institutionalize comprehensive industrial cooperation by signing a 'Trade and Investment Promotion Framework (TIPF)' between the two governments and to discuss key cooperative projects through the 'Supply Chain and Energy Dialogue (SCED).' He also stressed strengthening the cooperation foundation in advanced industries such as battery and future car industry cooperation centers and expanding hydrogen fuel cell collaboration.

Furthermore, he said, "Aerospace, Bio, advanced Chemistry and Materials, Digital, and Energy have emerged as promising fields for cooperation between research institutions of both countries." He added, "With the establishment of the 'ABCDE' framework for Korea-Czech scientific and technological cooperation, we will actively support joint research and human exchange between the two countries."

President Yoon Suk-yeol is applauding at the Korea-Czech Business Forum held at a hotel in downtown Prague, Czech Republic, on the 20th (local time). [Image source=Yonhap News]

Efforts to strengthen infrastructure cooperation are also underway. President Yoon stated, "Korea is the fourth country in the world to independently develop and export high-speed train vehicles, and Korean high-speed rail has built a reputation for being 'fast and safe.' We hope Korean companies can contribute to the construction and operation of high-speed rail in the Czech Republic." He also added that joint efforts should be made to provide humanitarian support for the reconstruction of Ukraine's infrastructure.

About 470 people, including businesspeople and government officials from both countries, attended the event. From Korea, attendees included Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry; Lee Jae-yong, Chairman of Samsung Electronics; Chung Eui-sun, Chairman of Hyundai Motor Group; Koo Kwang-mo, Chairman of LG; and Chang In-hwa, Chairman of POSCO Group. From the Czech Republic, attendees included President Petr Pavel, Zden?k Zaj??ek, Chairman of the Czech Chamber of Commerce; Jan Rafaj, Chairman of the Czech Industrial Association; Petr Novotn?, CEO of ?koda Group; and Ji?? Nouza, Chairman of the Czech Construction Companies Association.

During the forum, a total of 14 memorandums of understanding (MOUs) were signed between companies and institutions of both countries. The governments plan to actively support the implementation of these MOUs into concrete outcomes.