[News Today] S.KOREA WINS CZECH REACTOR BID

[LEAD]
The Czech government has named 'Team Korea', led by Korea Hydro & Nuclear Power, as the preferred bidder for constructing up to four new nuclear reactors in their country. The South Korean government emphasized that this selection establishes a foothold for exporting our nuclear reactors to Europe, and pledged to do its utmost to secure the final order.

[Report]
The Czech government had announced that nuclear power will be further endorsed to phase out coal-based energy production.

In line with that policy, the Czech Republic announced that it chose Korea Hydro & Nuclear Power as the preferred bidder for the country's new nuclear reactor project.

The immense construction project is estimated to cost 24 trillion won, or more than 17 billion U.S. dollars, to build two new nuclear reactors in the Dukovany region in the south central Czech Republic.

The Czech government also plans to build two more reactors later.

KHNP had joined hands with other Korean construction and energy companies to form a so-called 'Team Korea' to compete against French power giant EDF.

While Korea had the edge in reactor technology and construction cost, France had high reputation within the European Union, which resulted in a tight race until the end.

To drum up support for Korea's bid, President Yoon Suk Yeol met with Czech President Petr Pavel at last week's NATO Summit.

The Korean government called it the greatest feat since Korea won the Barakah nuclear plant project in the United Arab Emirates fifteen years ago.

Sung Tae-yoon/ Nat'l Policy Director, Presidential office
The President said our competitiveness in the nuclear power industry was again globally recognized when Korea was chosen as a preferred bidder and asked Team Korea to do its best until the contract is finalized.

The Korean government added that the latest deal will further accelerate the restoration of the nuclear energy sector and re-energize the local nuclear reactor industry by providing a great number of export jobs.