South Korea has signed a landmark nuclear power contract with the Czech Republic worth an estimated 25 trillion won ($18 billion), marking the country’s first overseas nuclear export since its Barakah project in the United Arab Emirates in 2009.
The agreement between Korea Hydro & Nuclear Power (KHNP) and Czech utility Elektrárna Dukovany II (EDU II) was formally announced by Czech Prime Minister Petr Fiala in a televised press conference on June 4, just hours after a Czech court overturned a legal injunction that had delayed the deal.
The project, which had been slated for signing in early May, was temporarily halted when France’s EDF—one of the losing bidders—secured a court order on May 6 alleging procedural flaws in the procurement process. The injunction came just a day before KHNP and EDU II were scheduled to sign the agreement at a high-profile ceremony attended by government representatives. Once the order was nullified on June 4, the Czech side moved swiftly to countersign a contract that KHNP had already executed.
“Despite the temporary legal setback, all official preparations had been completed and the Czech government had already reaffirmed that there were no legal obstacles,” South Korea’s Minister for Trade, Industry and Energy Ahn Duk-geun said in May following the delay.
The agreement covers the construction of two new reactor units at the Dukovany nuclear site—units 5 and 6—with a combined capacity of 1,000MW. Completion is targeted for 2036 and 2037. KHNP was selected as the preferred bidder in July 2024, defeating rivals Westinghouse and EDF in what was one of the most competitive nuclear tenders in the European Union.
The project had faced uncertainty amid speculation that its finalization could be postponed until after the Czech general elections in October. EDF had continued to raise objections with European Union authorities, prompting concern over political delays. However, with legal barriers lifted and cabinet-level approvals already in place, Prague proceeded with finalizing the deal sooner than anticipated.
The Czech government had remained firm in its backing of the project. It convened a cabinet meeting as planned on May 7 and pre-authorised contract execution, conditional on the court’s decision. Once the injunction was lifted, KHNP and EDU II activated the agreement without further delay.
The deal represents a significant victory for South Korea’s nuclear export ambitions, reinvigorating its position in the global market after more than a decade. It also provides Seoul with a strategic entry point into Europe’s energy transition as the region looks to reduce its reliance on fossil fuels and Russian energy sources.
