Czech-Korean nuclear deal under EU scrutiny

A landmark $18 billion nuclear power plant deal between South Korea and the Czech Republic has come under renewed pressure after the European Union raised objections to the project, according to industry sources on Tuesday. Korea Hydro & Nuclear Power and a subsidiary of Czech state-run utility CEZ were set to sign a contract last week for the construction of two 1,055-megawatt nuclear reactors at the Dukovany Nuclear Power Plant. However, the signing was suspended after a regional court granted

May 13, 2025

KHNP vows cost-effective nuclear build, eyes European markets

PRAGUE — Korea Hydro & Nuclear Power’s 50 years of experience and proven supply chain give it a competitive edge over rivals in securing the Czech Republic’s $18 billion nuclear project, President and CEO Whang Joo-ho said Thursday. Although the contract, originally set to be signed this week, has been temporarily delayed by a court injunction following a legal challenge from a losing bidder, Whang emphasized that KHNP is fully prepared to move forward once legal hurdles are cleared. “While ther

May 9, 2025

Korea-Czech nuclear deal advances despite court injunction

PRAGUE ― South Korea and the Czech Republic reaffirmed their commitment on Wednesday to advance their $18 billion nuclear power plant construction deal and expand cooperation across key industrial sectors, despite a court ruling that temporarily delayed the contract signing. The Czech government approved Elektrarna Dukovany II, a subsidiary of Czech state utility CEZ, to proceed with the contract to build two nuclear reactors with Korea Hydro & Nuclear Power at the "earliest possible timing," du

May 8, 2025

Korea-Czech nuclear deal advances despite court injunction

PRAGUE ― South Korea and the Czech Republic reaffirmed their commitment on Wednesday to advance their $18 billion nuclear power plant construction deal and expand cooperation across key industrial sectors, despite a court ruling that temporarily delayed the contract signing. The Czech government approved Elektrarna Dukovany II, a subsidiary of Czech state utility CEZ, to proceed with the contract to build two nuclear reactors with Korea Hydro & Nuclear Power during a Cabinet meeting on the day.

May 8, 2025

Czech utility CEZ to appeal court ruling, vows to proceed with Korea nuclear deal

PRAGUE, Czech Republic – Czech energy utility CEZ said Wednesday it will challenge a court injunction that has temporarily blocked its $18 billion nuclear plant deal with Korea Hydro & Nuclear Power, vowing to move forward with the project and minimize delays and related costs. The company announced it will file an appeal next week with the Czech Supreme Administrative Court against the Brno Regional Court’s decision to grant a preliminary injunction requested by French energy firm EDF, which lo

May 7, 2025

Korea reaffirms commitment to Czech nuclear project despite court pause

PRAGUE, Czech Republic — South Korean Industry Minister Ahn Duk-geun expressed confidence that Korea’s nuclear plant deal with the Czech Republic will move forward smoothly, despite a surprise court ruling on Tuesday that temporarily blocked an $18 billion contract between Korean and Czech energy companies. Ahn was en route to Prague for the official signing ceremony between Korea Hydro & Nuclear Power and Elektrarna Dukovany II, scheduled for Wednesday, when a Czech court issued a preliminary i

May 7, 2025

Korea’s Czech nuclear plant deal halted by court injunction

Dukovany, Czech Republic — A Czech court has blocked Elektrarna Dukovany II, a subsidiary of the country’s main power company, from signing an $18 billion nuclear plant contract with South Korea’s Korea Hydro & Nuclear Power, following a preliminary injunction filed by French energy firm EDF, which lost in the bidding process. The contract signing ceremony between Elektrarna Dukovany II and KHNP, scheduled for Wednesday, has been effectively suspended due to the court’s decision. Elektrarna Duko

May 6, 2025

SK Telecom scrambles to restore trust after massive data breach

South Korea’s leading mobile carrier SK Telecom is facing mounting fallout from a recent hacking incident, with more than 70,000 users switching to rival providers in just two days after the company began offering free USIM card replacements. Amid growing concerns that the data breach could spill over into the financial sector, South Korean financial authorities on Wednesday launched an emergency response team and tightened security protocols. According to industry sources, 35,902 SK Telecom use

April 30, 2025

[Photo News] LG, Guggenheim celebrate art

Artworks by Kim A-young, the first Korean to win the LG Guggenheim Award, are being showcased on public signage in Times Square, New York, from Monday through May 25, LG said Tuesday. A video featuring Kim’s “Delivery Dancer” series and celebrating her award is expected to be seen by about 10 million people while on display, according to the company. (LG)

April 29, 2025

Jusung Engineering adopts 3-CEO system in succession push

Jusung Engineering, a first-generation chipmaking equipment company in Korea, is transitioning from a single-CEO to a three-CEO structure, signaling a strategic push for leadership succession. The company announced Monday that its board has approved a plan to divide the CEO role, previously held solely by founder Hwang Chul-joo, into three distinct areas: research and development, sales, and strategy. Under the new leadership structure, Chairman Hwang will oversee all R&D activities, with a focu

April 29, 2025