South Korea and Czech Republic Sign Comprehensive Nuclear Power Agreement
Prague, Czech Republic – South Korea and the Czech Republic have signed a comprehensive agreement for cooperation in thenuclear power sector, marking a significant step in their strategic partnership. The Nuclear Power Full Life Cycle Cooperation Agreement was signed on September 20th at theheadquarters of Doosan Skoda Power in Pilsen, Czech Republic.
The signing ceremony was attended by South Korean President Yoon Suk-yeol and Czech Prime Minister Petr Fiala, who both emphasized the importance of this agreement for their respective countries. President Yoon described the agreement as a key element in the revival of nuclear power and pledged South Korea’s full support in its implementation. He also highlightedSouth Korea’s commitment to being a reliable partner for the Czech Republic in its nuclear power projects, ensuring they are delivered on time and on budget.
The agreement encompasses a wide range of areas, including:
- Nuclear powerplant construction: South Korea is currently the frontrunner to build new reactors at the Czech Republic’s Dukovany nuclear power plant. Doosan Skoda Power, a South Korean company, is expected to supply turbines for the new reactors if the project is awarded to South Korea.
- Technology transfer and collaboration: The agreementincludes provisions for sharing expertise and technology in nuclear power, potentially leading to joint research and development projects.
- Supply chain cooperation: Both countries will work together to establish a robust supply chain for nuclear power components and services, fostering economic growth and job creation.
The signing of this agreement comes after South Korea was selected as the preferredbidder for the Dukovany project in July 2023. The Czech Republic is seeking to replace its aging reactors with new, modern technology, and South Korea’s advanced nuclear power technology has been deemed a strong contender.
The agreement also includes 13 separate Memoranda of Understanding (MOUs)covering specific areas of cooperation, such as:
- Nuclear power plant safety and security: The two countries will collaborate on enhancing safety and security standards in their respective nuclear power programs.
- Nuclear waste management: Joint efforts will be made to develop sustainable solutions for the management of nuclear waste.
- Humanresource development: Both countries will work together to train skilled personnel in the nuclear power sector.
This agreement signifies a deepening of the strategic partnership between South Korea and the Czech Republic. It is expected to boost bilateral trade and investment, create new jobs, and contribute to the development of a sustainable energy future for both nations.
The agreement also highlights the growing global interest in nuclear power as a reliable and low-carbon source of energy. As countries strive to achieve their climate goals, nuclear power is increasingly seen as a viable option, and South Korea is positioning itself as a key player in this sector.
The success of this agreement will depend on theeffective implementation of its provisions and the continued commitment of both countries to their shared goals. The next few years will be crucial for the development of this partnership and the realization of its full potential.
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