Seoul: South Korea and the Czech Republic held a high-level bilateral supply chain and energy dialogue (SCED) on Monday, aiming to enhance cooperation in sectors including trade, eco-friendly energy, and nuclear power plants, according to Seoul's industry ministry.
According to Yonhap News Agency, Industry Minister Ahn Duk-geun and his Czech counterpart, Lukas Vlcek, convened in Seoul for the second bilateral SCED. They discussed strategies to expand cooperation in trade, supply chains, advanced industries, carbon-free energy, and nuclear power plants. The talks evaluated the progress of negotiations for a South Korean consortium to build two nuclear plants in the Czech region of Dukovany, which are reportedly advancing smoothly.
The Czech Republic has been negotiating contract terms with the consortium, led by Korea Hydro and Nuclear Power, aiming to finalize the agreement for the 24 trillion-won (US$16.6 billion) project by March. During Monday's meeting, Vlcek expressed optimism about reaching a final agreement soon, emphasizing the need to meet both parties' high expectations for the project.
If realized, the Dukovany nuclear power plant project will represent the single-largest investment in Czech history. To support collaboration in the nuclear energy sector, Ahn and Vlcek discussed potential joint research and development projects and initiatives to nurture talent.
The ministers also explored establishing cooperation centers for collaboration in battery technology, future mobility, and robotics. They signed a memorandum of understanding to cooperate in the semiconductor industry and agreed to collaborate on developing clean hydrogen energy technologies.
In conjunction with Monday's meeting, South Korea and the Czech Republic co-hosted a business conference to encourage bilateral investment. Ahn highlighted the significance of this year marking the 35th anniversary of diplomatic relations and the 10th anniversary of a strategic partnership between the two nations. He expressed hopes for a successful finalization of the Dukovany nuclear power plant project to further strengthen bilateral ties.