Korea, Czech Republic to boost nuclear energy cooperation

South Korea and the Czech Republic have held a consultative meeting on nuclear energy and signed a memorandum of understanding calling for greater bilateral cooperation in the sector, the government said Thursday.

The meeting, held on the sidelines of President Park Geun-hye's visit to the European country on Tuesday, took place as the two nations move to strengthen ties in the atomic energy field, the Ministry of Trade, Industry and Energy said.

Prague is seeking to build new nuclear power reactors to augment its existing facilities and wants a partner to expand into the global energy market.

The ministry said the talks represented by Deputy Minister of Energy and Resources Policy Chung Yang-ho on the South Korean side, were focused on joint research into the European version of South Korea's Advanced Power Reactor. Four APR-1400 reactors are currently being built for the United Arab Emirates.

"Detailed talks took place on the running of nuclear power plants, fuel, maintenance and related equipment with officials from the two countries' power companies taking part in the discussions," the ministry said.

Korea Electric Power Corp. and Skoda Praha, a subsidiary of the Czech government's energy conglomerate CEZ Group signed an MOU that encompasses all dimensions of the nuclear cooperation supply chain from the development stage to operations and exchange of latest technologies, it said.

The ministry also said that Korea Hydro & Nuclear Power Co., a KEPCO subsidiary, reached a deal to support Skoda Praha in winning European Utility Requirements certification. EUR certification is needed if a company wants to take part in a bid to build new nuclear reactors in the European Union.

The CEZ is expected to decide on its requirements for a new reactor model and the bidding process in June 2016 and pick a builder by 2019. It is estimated that the Czech building project will be worth some 10 trillion won ($8.6 billion). (Yonhap)