South Korea has won a landmark $18.2 billion contract to build two nuclear reactors in the Czech Republic—its first overseas nuclear power project in 16 years—signaling a renewed push into Europe's growing energy market.
A consortium led by Korea Hydro & Nuclear Power Co. (KHNP) will finalize the agreement next Wednesday with Elektrarna Dukovany II (EDU II), the Czech utility overseeing the project, according to the Czech government and Yonhap.
South Korea’s Ministry of Trade, Industry and Energy hailed the win in a statement, calling it a breakthrough for the country’s energy export sector. The deal marks South Korea’s first international nuclear contract since the Barakah Nuclear Power Plant project in the United Arab Emirates in 2009.
South Korea was named the preferred bidder for the Dukovany project in July 2024. The win came after overcoming major legal and diplomatic challenges. Earlier this year, KHNP settled a legal dispute with U.S. firm Westinghouse Electric Co. over reactor technology rights. A separate appeal by France’s EDF was also rejected by Prague's competition authority.
The deal is expected to boost South Korea’s position in the European nuclear energy market, driven by rising global demand amid the AI boom and growing concerns over energy security due to geopolitical instability.
For the Dukovany site, KHNP will supply APR-1000 reactors, a localized version of its APR-1400 design used in the Barakah plant. The Czech Republic is also considering building two additional reactors at the Temelin nuclear power station, where South Korea is now seen as a strong contender.
Ukrainian President Volodymyr Zelenskyy has raised concerns that Russia could launch large-scale attacks during the Christmas period....
Paramount has reaffirmed its bid to acquire Warner Bros. Discovery, offering $30 per share in cash and backing the proposal with a $40.4 billion perso...
As the European Commission warns of possible visa suspension, Georgian authorities reject accusations of democratic backsliding. What is really at sta...
Enrique Cocero, a political analyst, recently shared his insights on the escalating tensions surrounding the U.S. seizure of Venezuelan oil tankers....
Premium AI-95 gasoline produced in Azerbaijan will soon be available for sale in Armenia at a significantly lower price compared to local market rates...
Ukrainian President Volodymyr Zelenskyy has raised concerns that Russia could launch large-scale attacks during the Christmas period.
Paramount has reaffirmed its bid to acquire Warner Bros. Discovery, offering $30 per share in cash and backing the proposal with a $40.4 billion personal equity guarantee from billionaire Larry Ellison, despite the target company’s board urging shareholders to reject the offer.
As the European Commission warns of possible visa suspension, Georgian authorities reject accusations of democratic backsliding. What is really at stake — and who could be affected most?
Enrique Cocero, a political analyst, recently shared his insights on the escalating tensions surrounding the U.S. seizure of Venezuelan oil tankers.
The death toll from Hong Kong’s deadliest fire in decades has risen to 161, after forensic analysis confirmed one more victim among the charred remains at Wang Fuk Court in Tai Po, more than three weeks after the blaze began, authorities said on Saturday.
Israeli Prime Minister Benjamin Netanyahu is set to meet President Donald Trump on 29 December in Florida, where he is expected to present a package of military options regarding Iran, Israel’s public broadcaster KAN reported on Saturday.
The U.S. Coast Guard is pursuing an oil tanker in international waters near Venezuela, officials told on Sunday, in what would be the second such operation this weekend and the third in less than two weeks if successful.
The United States has proposed a potential new format for peace talks between Ukraine and Russia, which could include American and European representatives, Ukrainian President Volodymyr Zelenskyy said on Saturday, December 20.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pension fund, as the country’s next ambassador to the United States.
Israeli Prime Minister Benjamin Netanyahu said Israel is monitoring recent Iranian military exercises and will raise the issue with U.S. President Donald Trump during his visit to Washington next week.
Italy’s competition authority has imposed a $115 million (€98.6 million) fine on Apple, accusing the tech giant of exploiting its dominant position in the mobile app market.
Ukrainian President Volodymyr Zelenskyy has raised concerns that Russia could launch large-scale attacks during the Christmas period.
Paramount has reaffirmed its bid to acquire Warner Bros. Discovery, offering $30 per share in cash and backing the proposal with a $40.4 billion personal equity guarantee from billionaire Larry Ellison, despite the target company’s board urging shareholders to reject the offer.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment