Kim Jung-kwan Responds to Yoon Administration's 'Humiliating Nuclear Contract' Controversy: "It Was a Normal Agreement"

Regarding the controversy over the Yoon Suk-yeol administration allegedly signing an unfavorable contract with the U.S. company Westinghouse to secure a nuclear power plant order in the Czech Republic, Minister of Trade, Industry and Energy Kim Jung-kwan stated, "It was a contract concluded through normal procedures."

At the plenary session of the National Assembly's Trade, Industry, Energy, SMEs and Startups Committee on the 19th, Minister Kim responded to a question from Kim Sung-won, a member of the People Power Party, who asked whether his position had changed since the ministerial confirmation hearing where he said the contract with Westinghouse was not a humiliating deal. Kim replied, "I feel the same as I did then."

Regarding the process of reporting to the presidential office at that time, Minister Kim said, "I am not aware of what procedures or channels were used back then."

Yonhap News

According to industry sources, the agreement signed in January between Korea Hydro & Nuclear Power (KHNP), Korea Electric Power Corporation (KEPCO), and Westinghouse reportedly included a clause requiring Korean companies to sign goods and services purchase contracts worth $650 million (about 900 billion won) per nuclear reactor exported. In addition, it is said to have included a clause requiring a technology usage fee of $175 million (about 240 billion won) per reactor, as well as a condition that, in the case of independently developing and exporting next-generation nuclear power plants such as small modular reactors (SMRs), Korean companies must pass Westinghouse's technology independence verification.

At the plenary session, Hwang Joo-ho, CEO of Korea Hydro & Nuclear Power, responded to Seo Wang-jin, a member of the Rebuilding Korea Party, who pointed out, "There are claims that the negotiation result is a hasty and unfair agreement." Hwang stated, "From the receiving side, it cannot be considered fair. However, the terms are at a level we can endure and still make a profit."

When Lee Jong-bae, a member of the People Power Party, remarked, "There are also claims that the public was deceived," CEO Hwang added, "We must apologize for not properly helping the public fully understand details regarding technology independence and original technology."