Power Grid

South Korea is on the brink of finalizing a landmark $19 billion nuclear power deal, which is expected to significantly enhance its global profile as an exporter of nuclear reactor technologies for peaceful use. This strategic move also aligns with international efforts to transition toward cleaner and more sustainable energy sources.

A high-level South Korean delegation is set to travel to the Czech Republic on Tuesday, May 6, 2025, to attend the contract signing and engage in broader discussions on economic cooperation with the European nation.

The agreement involves a South Korean consortium, led by Korea Hydro and Nuclear Power Corporation (KHNP), partnering with Czech firm Elektrárna Dukovany II to construct two new nuclear reactors at the Dukovani plant, located approximately 200 kilometers south of Prague.

Valued at 26 trillion won (approximately $18.8 billion), this will be South Korea’s first international nuclear project since securing the Barakah Nuclear Energy Plant contract in the UAE in 2009. The visit, organized by South Korea’s Ministry of Trade, Industry and Energy, includes government officials and parliamentarians, with the contract expected to be formally signed on Wednesday.

During their two-day stay, the South Korean delegation comprising Industry Minister Ann Duk Gyoon, Land Minister Park Sang-woo, and MP Lee Chulgyu will also meet with the Czech Prime Minister and the President of the Senate. Discussions will focus on expanding economic collaboration in sectors such as nuclear energy, advanced industries, and infrastructure development.

South Korea plans to supply APR-1000 reactor models for the project, which are adapted from the APR-1400 reactors used in the UAE to better suit local requirements.

The path to the agreement has not been without challenges. In January 2025, KHNP settled a legal dispute with Westinghouse Electric over intellectual property rights related to the Czech project. Additionally, a recent appeal from French company EDF was dismissed by the Czech competition authority, clearing the way for the South Korean bid.

This project is expected to provide South Korea with greater access to the European nuclear market and may strengthen its position for future opportunities, including a potential new project at the Temelin nuclear plant. For the Czech Republic, the project is a step toward reducing coal dependency, which still accounts for nearly 45% of its electricity generation.