Minister Anduk Geun from the Ministry of Trade, Industry and Energy is pictured after signing the Arrangement for the Korea-Czech Nuclear Power Industry Cooperation at the Czech Prime Minister's Office in Prague on Nov. 7, with the Czech Prime Minister Petr Fiala and representatives from the Korean and Czech governments present. /Courtesy of Ministry of Trade, Industry and Energy

Czech Prime Minister Petr Fiala said, "KHNP submitted the best bid in every aspect, and the Czech government will continue to proceed with the preparation process for the nuclear power plant construction project."

Prime Minister Fiala noted at a press conference on the 7th at the Czech Prime Minister's office that "KHNP's participation in the new nuclear power plant construction project is one of the most important agendas," and added, "I expect the lawsuits from competitors to be dismissed soon."

He stated, "KHNP's bid was the best in all aspects, including price, localization ratio, schedule, and budget assurance," adding, "Some competitors could not accept the results, but the Czech Republic will continue to promote business with KHNP."

Prime Minister Fiala emphasized that the cooperation agreement signed between Czech and Korean corporations is an example of the commitment to continue joint projects between the two countries. The parties signed a total of 12 contracts that day, including ▲ Korea-Czech Republic nuclear power industry cooperation agreement ▲ nuclear power secondary equipment supply ▲ nuclear power turbines and auxiliary equipment supply ▲ cooperation for new nuclear power in the Czech Republic.

He added, "The signing of the cooperation agreement for the supply of nuclear power turbines and auxiliary equipment has ensured localization equivalent to 30% of the total project cost," and noted, "The remaining contracts and agreements will be made at feasible stages, and this will present a golden opportunity for Czech corporations."

Prime Minister Fiala also expressed expectations for expanding cooperation in the automotive industry. He remarked, "I believe this will be a good opportunity to enhance the ongoing cooperation in the automotive sector."

Hyundai Motor Group is engaging in strategic collaboration with the Czech technical university, VŠB - Technical University of Ostrava, to promote the commercialization of future vehicle technology. On that day, the Korea Automotive Technology Institute and VŠB - Technical University of Ostrava also signed a Letter of Acceptance (LOA) for the Advanced Industry Cooperation Center for future vehicles.

Prime Minister Fiala expressed hope that the two countries would achieve mutually beneficial cooperation in the future. He stated, "I appreciate Korea's proactive attitude and high understanding, and I am confident that the two countries will establish mutually beneficial cooperation," adding, "I will continue to work steadily over the next few months."