May 9th, 2025
Create an account or log in to unlock unlimited access!
Officials in South Korea said on Wednesday that a court in the Czech Republic stopped a big plan for South Korea to build two nuclear power plants there for a short time. They said it was just a small problem for now and they think the plan will still happen later.
A group of companies from South Korea, led by a government power company, thought they would finish a deal this week with a part of the biggest electricity company in the Czech Republic. But, a court in the Czech Republic stopped the Czech company from signing the paper while it looks at a problem raised by a company from France that did not win.
South Korea's Minister of Industry, Ahn Dukgeun, said in Prague that the court's decision would only make the main contract signing happen later. He said that everything else would happen on time if the deal is made. He also said that the Czech government did not expect the court to stop the agreement, and that the company CEZ wants to fight the decision.
We don't know when the court in Czechia will decide about that problem.
Ahn said the Czech government did not think EDF's claims were a big problem. They still asked them to come to the signing ceremony. He said it seems the Czech government's idea was different from what the court decided.
Czech Prime Minister Petr Fiala said on Wednesday that his government agrees with the court's decision. He also said: "I think the judges and the court know how important this decision is and how it will affect the safety of the Czech Republic and what is good for our country."
Lee Ju-Ho, who is leading South Korea now, said they will talk a lot with people from the Czech Republic to make the agreement finish quickly.
CEZ chose KHNP to build two big nuclear power plants at Dukovany. EDF was not happy and went to court because they thought the choice was not fair.
Before he left his job last month, the leader of South Korea, Yoon Suk Yeol, said he wanted to sell more nuclear power to other countries. He thought that selling nuclear power had not been good when the leaders before him tried to use less nuclear energy in South Korea. His government had a plan to sell 10 nuclear power stations by 2030.
May 9th, 2025
US Confidence Rises After Worries About Prices
US and Europe: A Trade Fight. What Does the US Want? What Can Europe Do?
Salesforce to Buy Informatica for Around $8 Billion
Companies in Europe Spend Less Money in China Due to Slower Economy
Walmart: Prices Will Go Up Because of Tariffs
Starbucks Workers Strike Over New Uniform Rules
Japan's Economy Gets Smaller: Trade Problems Hurt Sales and Worry People
Asian Shares Not Clear After China-US Talk
Wall Street Goes Up After Fed Talks About Risks
Trump's Talk on Trade: Tariffs Get More Confusing
Create an account or log in to continue reading and join the Lingo Times community!