May 9th, 2025
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In Seoul, South Korea, officials on Wednesday sought to ameliorate concerns following a Czech court's interlocutory injunction effectively halting a vast $18 billion undertaking for South Korea to construct two nuclear reactors within the nation's borders, characterizing the judicial action as a transient impediment and voicing unwavering certitude regarding the ultimate fruition of the contractual agreement.
A South Korean consortium, spearheaded by the state-backed Korea Hydro and Nuclear Power, had anticipated the culmination of the agreement this week with a subsidiary of CEZ, the Czech Republic's predominant electricity purveyor; notwithstanding, a Czech court enjoined CEZ from executing the contract pending its examination of a grievance lodged by the French firm EDF, which was unsuccessful in its tender against the South Koreans.
Addressing the press in Prague, South Korean Industry Minister Ahn Dukgeun opined that the court's ruling would merely defer the formal contract's execution, with all ancillary protocols anticipated to progress according to the stipulated timeline, contingent upon the transaction's ultimate consummation; he further posited that the Czech government was evidently caught unawares by the judicial decree enjoining the accord, and that CEZ intended to lodge an appeal.
The precise temporal juncture at which the Czech Supreme Administrative Court may render its decision concerning that appeal remains veiled in uncertainty.
Ahn noted the Czech government had evidently not perceived EDF's claims as a formidable issue, inviting us nonetheless to the slated signing ceremony, which suggested a misalignment between their assessment and the court's judicial pronouncement.
On Wednesday, Czech Prime Minister Petr Fiala conveyed his administration's deference to the court's ruling, subsequently remarking, "It is my conviction that the esteemed judges and the court are fully cognizant of the profound import of this determination and its ramifying consequences for the Czech Republic's security and our overarching national interests."
Lee Ju-Ho, incumbent South Korean president ad interim, affirmed Seoul's commitment to maintaining close liaison with its Czech counterparts to expedite the finalisation of the accord.
In July, CEZ designated KHNP as the favoured tenderer, superseding EDF, for the construction of twin 1,000-megawatt nuclear reactors at the Dukovany facility; subsequently, EDF lodged a judicial protest last week following the Czech Republic’s competition watchdog’s dismissal of its appeal concerning the tender procedure.
Prior to his ousting last month following a fraught imposition of martial law in December, former conservative South Korean President Yoon Suk Yeol had vowed to invigorate the nation's nuclear power exports, contending they had languished under the preceding liberal administration's drive to diminish domestic dependence on nuclear energy, with his government having articulated an aspiration of exporting ten nuclear power reactors by 2030.
May 9th, 2025
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