France's nuclear power intervention failed, and South Korea finally signed the $18.4 billion Czech nuclear power plant contract... after 16 years since the UAE (United Arab Emirates) order

Czech Prime Minister personally announced the signing of the new nuclear power plant contract, immediately signed after the Czech court declared the injunction on the contract invalid... undertook the 1000MW Dukovany Unit 5 and 6, a result of defeating France's EDF and Westinghouse America.

It is reported that South Korea has quickly signed the Czech new nuclear power plant contract worth approximately 25 trillion Korean won (400 billion Czech koruna, about $18.4 billion). After the Czech court declared the decision to restrict the contract invalid, the Czech side immediately signed the contract already signed by the South Korean side, officially reaching an agreement. This is also the first overseas project undertaken by K-Nuclear since the Barakah nuclear power plant in UAE in 2009.

On the 4th, Czech Prime Minister Petr Fiala officially announced the news of the signing of the Czech new nuclear power plant contract between KEPCO (Korea Hydro & Nuclear Power) and EDU II (Czech Dukovany II Nuclear Power Plant Company) through an online live press conference. Earlier that day, the Czech Supreme Administrative Court ruled that the nuclear power contract between KEPCO and EDU II could continue to proceed, and the signing was completed just hours later. KEPCO and EDU II had planned to hold the signing ceremony on May 7th with the presence of delegations from various governments, but EDF (Electricité de France) filed a temporary injunction application to stop the signing due to issues with the contract, and the local court cited this application the day before the signing (June 6th), forcing the signing to be postponed.

However, the Czech side appealed against the ruling, and the local court declared it "invalid" on the same day, making the contract ready for signing. The Czech side immediately signed to make the contract effective. On May 8th, Korean Minister of Industry, Trade and Resources, An Duck-kon, who visited the Czech Republic for the signing, stated the day after the aborted signing: "Although the signing was inevitably delayed, we returned after completing all formal preparations for signing," and "the Czech government also confirmed there are no legal issues."

Due to France's continuous objections to the EU, there were concerns that the signing might be delayed until after the October Czech parliamentary election, but the actual signing time came earlier than expected. Previously, despite the court's decision to terminate the contract, the Czech government continued with the cabinet meeting and government approval process according to the original plan on May 7th so that once the local court lifted the injunction, KEPCO and the contractor EDU II could immediately sign. KEPCO also signed the prepared contract, completing the signing immediately after the court's decision.

The content of the new Czech nuclear power plant project is to build 1000MW (megawatt) Dukovany Unit 5 and 6 by 2036 or 2037. After three-way competition with Westinghouse America and EDF France, KEPCO was selected as the preferred negotiation party in July 2024 and started negotiations with the Czech side. Both parties had originally planned to sign the contract on May 7th.

Source: Chosun Ilbo

Original article: https://www.toutiao.com/article/1834066994284544/

Disclaimer: This article represents the author's personal views.