Czech Nuclear Plant '24 Trillion Jackpot'?... Absurd Claim

Total Project Cost of 20 Trillion Won, Our Share Only 6 Trillion Won
Andogul: "KEXIM Should Verify Economic Feasibility and Profitability"

Ando-geol Member of Parliament

There are growing concerns in the political sphere regarding the Czech nuclear power plant contract that the Yoon Seok-yeol administration is heavily promoting. Although the total project cost reaches 20 trillion won, South Korea's share is only about 6 trillion won.

On the 21st, Ahn Do-geol, a member of the Democratic Party of Korea representing Gwangju Dongnam-eul, pointed out the issues of inflated profitability and inadequate review related to the Czech Dukovany nuclear power plant contract during the National Assembly audit of the Export-Import Bank of Korea.

Rep. Ahn questioned the presidential office's promotion of a "24 trillion won jackpot," clarifying that the actual amount is only around 6 trillion won. Given the total project cost of 23.6 trillion won, the Czech company's participation rate, according to the Export-Import Bank's business trip report, is about 65%. The royalty payment to Westinghouse, based on the precedent of the UAE Barakah nuclear power plant, is up to about 10%. After deducting approximately 15.3 trillion won and 2.4 trillion won respectively, South Korea's share remains at around 6 trillion won. This is an excessively inflated figure compared to the 24 trillion won being promoted by the government and ruling party.

Rep. Ahn pointed out, "Considering the Czech government's financial status, the export financing support case of the UAE Barakah nuclear power plant, and the Export-Import Bank sending a letter of interest in April, export financing support is expected to be inevitable." He added, "Recently, the Export-Import Bank has taken a stance of hiding or denying its intention to provide financial support for the Czech nuclear power plant, which can be seen as denying the economic feasibility and profitability of the Czech nuclear power plant project."

Rep. Ahn also urged, "What the Export-Import Bank should do now is to ensure that the nuclear power plant contract aligns with national interests," and emphasized, "The Export-Import Bank's financial support for the Czech nuclear power plant should not be kept secret. It must play a role in verifying and monitoring whether the nuclear power plant project secures economic feasibility and profitability."