Ministry of Trade, Industry and Energy of the Republic of Korea

06/29/2022 | Press release | Distributed by Public on 06/29/2022 02:15

Korea and Czech Republic hold talks on nuclear energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang visited the Czech Republic on June 28, his first overseas visit since taking office on occasion of the "Korean Nuclear & High-Tech Day 2022," and held talks with his counterpart Jozef Síkela, the Czech Industry and Trade Minister on bilateral cooperation in nuclear energy and other various areas.

The Czech Republic launched a tender in March of this year of its nuclear power plant project, which aims for completion by 2036. Minister Lee expressed gratitude for the invitation to bid (ITB) and revealed plans of Korea's new regime to strengthen carbon neutral and energy security by boosting nuclear energy utilization.

He emphasized that a nuclear power plant project is at minimum, a decade-long, 60-year operation mega project that requires top-notch reliable and safe partners like South Korea and referred to the Barakah nuclear plant project nearing completion in UAE as an example of Korea's world-class technology.

Minister Síkela returned that the Czech Republic is just as committed to deploying nuclear power as an important energy source, and welcomed the bid participation of "like-minded" countries like South Korea that value freedom and democracy. Noting South Korea's increasing strides in technological development and investment in SMRs (small modular reactors), the two Ministers agreed on the need for cooperation in achieving early commercialization, global market penetration, and the production-transport-utilization of hydrogen.

In addition, the industry chiefs shared the same view in extending the scope of cooperation and depth to other industries like defense, EVs, batteries, chips and bio.

As the Czech Republic will take over the rotating presidency of the Council of the EU from France as of July 1, Minister Síkela relayed that willingness to work together with South Korea is higher than ever before, expressing hopes that these talks will be an opportunity to bolster bilateral cooperation. A sturdy manufacturing base and the strategy to transition high-tech into future industries are what both countries recognize as shared opportunities.

Moreover, Minister Lee requested the Czech Republic's support for Korea's hosting the World Expo in 2030 in Busan, to which Minister Síkela responded with a positive message congratulating Korea on its candidacy.

Minister Lee also held separate talks with Miloš Vystrčil, President of the Senate of the Parliament of the Czech Republic, to relay the strengths of South Korean nuclear energy and called for the Parliament's support in the two countries' collaboration in semiconductor, batteries and such sectors.

Senator Vystrčil concurred that the two nations' cooperation should deepen, and encouraged Korea's interest in supporting Ukraine amid the ongoing war. He further mentioned possible means of cultural and people exchange, including prospects of opening a direct sky route and establishing a Korean cultural center in the Czech Republic.

Minister Lee attended the Korean Nuclear & High-Tech Day 2022 on June 28 where he delivered a congratulatory message promoting the excellence of Korea's nuclear technology and strong willingness to participate in the Czech Republic's nuclear energy project.

Ten MOUs were signed for nuclear energy and hydrogen cooperation in the attendance of the South Korean and Czech Industry Ministers, nine Korean companies and 21 Czech companies and institutions.