[REVISION HISTORY]

South Korea-Czech Republic nuclear energy cooperation

2 recorded revisions of this situation.

What changed

2026-10-29 07:34 UTC → 2026-10-29 14:35 UTC · added ~~removed~~

South Korean and Czech officials initially held implementation review meetings to advance the Dukovany nuclear power plant project. Discussions focused on maintaining the project schedule and addressing potential regulatory hurdles from the EU Industrial Acceleration Act, which South Korean officials expressed concern could restrict non-EU participation in the regional market. However, construction contract negotiations between Korea Hydro & Nuclear Power (KHNP) and a consortium consisting of Daewoo E&C and Doosan Enerbility have terminated. The breakdown followed 16 months of discussions, including 78 working-level meetings and multiple executive sessions, with disputes centering on cost calculation and risk allocation. KHNP sought a fixed-price contract to avoid cost increases, while the consortium requested a unit-price settlement to account for material and labor volume changes during detailed design phases. The consortium argued that absorbing additional costs from design changes would pose an “existential risk to private ~~companies.”~~ companies” and noted that bearing such risks without involvement in the design process was not in line with global standards. While the main contract between KHNP and the Czech client (EDU II) remains intact, KHNP intends to initiate a new competitive bidding process to select a construction partner by July 2027. The shift in construction partners has caused significant market volatility, notably resulting in Daewoo E&C shares dropping over 21%. Other agreements, including the supply of reactor equipment and turbines by Doosan Enerbility, as well as contracts for engineering and fuel supply, are expected to proceed as planned. Doosan Enerbility has expressed its intention to participate in the upcoming re-bidding process.

Versions

Select a version to see what changed compared to the one before it.