Czech’s nuclear officials visit South Korea for negotiations with KHNP

The Czech Republic's nuclear energy officials began their two-week trip to South Korea on Monday amid ongoing negotiations with Korea Hydro & Nuclear Power (KHNP) for a multibillion dollar project to build two nuclear plants in the European nation, Yonhap reports.

The visit follows Prague's selection of a South Korean consortium, led by KHNP, as the preferred bidder for its nuclear project in July. The consortium has been negotiating contract terms to finalize an agreement by March to build the nuclear reactors, a deal estimated at approximately 24 trillion won (US$17 billion).

During its two-week trip, the delegation of around 60 officials is expected to discuss project details with KHNP, and visit the Saeul Nuclear Plant in Ulsan, 414 kilometers southeast of Seoul.

"The KHNP and the contractor have been making mutual efforts toward the common goal of successfully constructing new nuclear reactors in the Czech Republic," KHNP CEO Whang Joo-ho said in a statement, adding that the two parties will continue working to finalize the deal by March.

The visit, meanwhile, comes after the Czech Republic's antitrust watchdog dismissed complaints from U.S.-based Westinghouse and France-based EDF regarding the Czech government's decision to select the KHNP consortium as the preferred bidder.

Westinghouse has claimed that KHNP's nuclear reactors are derived from its technology, while EDF has emphasized the need for a fair and transparent selection process.