Korea signs final nuclear power contract with Czech Republic on day new administration is inaugurated - worth 26 trillion won

The final contract for the Czech new nuclear power plant, awarded to "Team Korea," was suddenly signed on the 4th, the day the new administration was inaugurated. The Czech court's provisional injunction blocking the contract had been a hindrance to this contract.
The decision was invalidated, and the two parties immediately signed the contract, bringing it into effect. This is the first time that a Korean company has exported nuclear power since the Barakah Nuclear Power Plant in the United Arab Emirates in 2009.
According to the South Korean government and Reuters, Korea Hydro & Nuclear Power (KHNP) and the ordering party, Czech Republic Electric Power Co. (CEZ)-affiliated Dukovany 2 Nuclear Power Plant (EDU2), have
On the same day, the final contract for the construction of two new Dukovany nuclear reactors was signed. Prime Minister Fiala told reporters on the same day, "We have just signed a contract for the supply of two Dukovany nuclear reactors," and added, "Energy
"This is a decisive step for our self-sufficiency and security," he said. The two parties are said to have signed the final contract via electronic document. Earlier that morning, the Supreme Administrative Court of the Czech Republic had
The Brno District Court had previously overturned a provisional injunction banning the two parties from entering into a contract in 2013. The final contract was signed shortly after this ruling.
Initially, KHNP and Dukovany 2 Nuclear Power Plant were scheduled to sign a final contract on the 7th of last month.
However, the ceremony was canceled the day before the ceremony because the Brno District Court accepted an application for a provisional injunction filed by Electricite de France (EDF), which lost out in the competition with KHNP.
In response, Dukovany 2 Nuclear Power Plant and KHNP appealed the decision, and on the same day, the Supreme Administrative Court ruled to revoke the provisional disposition, which meant that the final contract was about to be concluded.
The Czech government, despite the district court's order, signed a pre-contract with Korea Hydro and Nuclear Power on the 8th of last month to allow the new nuclear power plant project to proceed as planned.
At the time, Czech Prime Minister Petr Fiala said that once the court again gave the go-ahead for the contract to be signed, all related work would be completed immediately.
"We want to complete the project and not delay it even for a day," he said.
The CEO also said that although the contract is pending, geological surveys of the site and preparation of documents to be submitted to the Nuclear Safety Agency for approval are underway.
However, EDF, which lost out on the contract, filed a complaint with the Czech anti-monopoly authority and filed a lawsuit, resulting in the contract being cancelled.
The two-unit Dukovany nuclear power plant construction project is a large-scale national policy project.
Since the case is serious because it is a large-scale project, and if the project is delayed for a long time, the damages could amount to hundreds of billions of won. Therefore, the Supreme Administrative Court decided to hear the case promptly and reach a decision.
The two sides had completed all preparations for the final signing in the Czech Republic last month, and had agreed to sign the agreement electronically as soon as the Supreme Administrative Court's decision is made.
The Czech new nuclear power plant project is a project to build two new 1 gigawatt (GW) nuclear power plants on the site of the Dukovany nuclear power plant. The first operation is scheduled for 2036.
KHNP was selected as the preferred negotiating party in July last year after competing with America's Westinghouse and France's EDF for the contract.