Yoon leaves for Prague to cement nuclear energy push

President Yoon Suk Yeol departed for the Czech Republic Thursday to attend summits with Czech leaders taking place at a time when South Korea is working to finalize its 24 trillion won ($18 billion) nuclear export deal with the country.

Yoon told Reuters in a written interview Thursday that the Czech project holds "paramount importance," adding that his trip was partly meant to solidify Prague's commitment to the signing of the deal planned for March 2025.

Yoon is also expected to announce plans in Prague encouraging Czech companies to participate in the South Korea-led nuclear power plant construction project, which would eventually allow Czech firms to hone their nuclear energy-related capacity, according to Yoon's office.

Soon after his arrival, Yoon will hold talks with Czech President Petr Pavel Thursday in Prague local time, followed by his talks with Czech Prime Minister Petr Fiala on Friday.

The visit comes at a time of heightened uncertainties surrounding the nuclear energy bid, as US energy firm Westinghouse and French company EDF both appealed Czech authorities' selection of the South Korean consortium.

Yoon's office has repeatedly said Seoul was looking for a political solution with the US to settle the legal conflict between the two companies.

Yoon told Reuters that Seoul's efforts with Washington to create an "amicable atmosphere" among businesses in the nuclear energy sector will "help facilitate a smooth resolution to any dispute that might arise between the two sides."

This echoed the remarks by Kim Tae-hyo, first deputy director of the presidential National Security Office. Kim on Sept. 12 said Seoul's nuclear deal with Prague will lead to a "nuclear alliance between South Korea and the United States," but he did not elaborate further.

Yoon's visit to Prague, the Czech Republic's capital, will follow that of South Korean special envoys in July led by Sung Tae-yoon, director of national policy at Yoon's office, and Ahn Duk-geun, minister of Trade, Industry and Energy.

Czech National Security Adviser Tomas Pojar earlier in September reciprocated the South Korean envoys' visit. According to Yoon's office, Pojar said during his meeting with Yoon that he was confident Prague "will conclude a final contract with Korea" for the Dukovany project.

Earlier in July, a group of South Korean firms led by state-run Korea Hydro & Nuclear Power was selected as the preferred bidder for the Czech construction project to build at least two nuclear power units each with 1,000 megawatts of capacity in Dukovany, a city 170 kilometers southeast of Prague. Along with KHNP, the consortium includes Doosan Enerbility and Daewoo Engineering & Construction.

The consortium also has the exclusive rights to a contract for two more units in Temelin, 100 kilometers south of Prague, should the Czech government approve the project.

Looking beyond the prospect of the large nuclear deal, Seoul also seeks to solidify further bilateral cooperation triggered by the deal.

The two countries will sign a new trade framework called the Trade and Investment Promotion Framework, discuss ways to team up for postwar reconstruction in Ukraine, and cooperate in advancing cutting-edge technologies, said Park Chun-sup, senior presidential secretary for economic affairs, in a briefing the previous week.

Business leaders' gathering at a business forum in Prague will also spice up the momentum for ties. South Korean entrepreneurs including Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chair Chey Tae-won, Hyundai Motor Executive Chair Chung Euisun, LG Chair Koo Kwang-mo, and Daewoo Engineering and Construction Chairman Jung Won-ju will attend the event.

Park Sang-ook, senior presidential secretary for science and technology, said Seoul was looking to revive the director general-level bilateral dialogue on science and technology cooperation, especially in the fields of biotechnology, chemistry, aerospace, artificial intelligence and next-generation nuclear energy solutions, among others.

The annual funding of 250 million won for joint science projects of South Korea and the Czech Republic in the field of biotechnology and chemistry will jump more than 10-fold, according to the presidential office.