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Korea, Czech Republic hold high-level supply chain, energy dialogue in Seoul

Published: 17 Feb. 2025, 17:16

Korea's Industry Minister Ahn Duk-geun, right, and the Czech Republic's Minister for Industry and Trade Lukas Vlcek pose for a photo ahead of the second round of the Korea-Czech ministerial supply chain and energy dialogue in Seoul on Feb. 17. [YONHAP]

Korea and the Czech Republic held a high-level bilateral supply chain and energy dialogue (SCED) Monday, as the two sides seek to deepen cooperation in various sectors, including trade, eco-friendly energy and nuclear power plants, Seoul's Ministry of Trade, Industry and Energy said.

Industry Minister Ahn Duk-geun and his Czech counterpart, Lukas Vlcek, met in Seoul for the second bilateral SCED and discussed measures to expand cooperation in trade, supply chain, advanced industries, carbon-free energy and nuclear power plants, according to the ministry.

In the meeting, the two sides assessed that their negotiations for a Korean consortium building two nuclear plants in the Czech Republic's southern region of Dukovany were proceeding smoothly.

Prague has been negotiating contract terms with the consortium, led by Korea Hydro & Nuclear Power, to finalize the agreement for the estimated 24 trillion won ($16.6 billion) project by March.

In Monday's meeting, Vlcek said he anticipates the two sides will reach a final agreement soon, while noting the need to fulfill each side's high expectations for the project.

The Dukovany nuclear power plant project, if realized, will mark the single-largest investment in the Czech Republic in the country's history, the minister said.

To further bolster cooperation in the field, Ahn and Vlcek discussed joining hands for research and development projects and fostering talent in the nuclear energy sector.

The ministers also exchanged opinions on establishing centers for collaboration in the fields of batteries, future mobility and robotics, according to Ahn's office.

Additionally, they signed a memorandum of understanding on cooperation in the semiconductor industry and agreed to work together to develop clean hydrogen energy technologies.

On the sidelines of Monday's meeting, Korea and the Czech Republic jointly hosted a business conference to promote bilateral investment.

"This year marks the 35th anniversary of the establishment of diplomatic relations between the two countries and the 10th anniversary of striking a strategic partnership," Ahn noted.

The minister further expressed hopes for the two sides to "successfully strike a final deal for the nuclear power plant project in Dukovany to advance the bilateral ties closer to another level," he added.

Yonhap