Prague, Czech Republic – Kang Kyung-seong, President of the Korea Trade-Investment Promotion Agency (KOTRA), concluded a pivotal visit to Prague on November 5-6, engaging with key Czech economic organizations to solidify and expand bilateral economic cooperation. The visit comes at a crucial juncture as Korea Hydro & Nuclear Power progresses towards finalizing a contract for a new nuclear power plant in the Czech Republic, targeted for completion by the end of the month.

During his visit, President Kang held strategic meetings with Jan Mihal, Director of the Czech Investment Agency, focusing on broadening collaborative efforts in critical sectors such as energy (encompassing transmission, distribution, and hydrogen) and advanced industries. These discussions underscored the commitment of both nations to fostering robust economic partnerships beyond the nuclear energy sector.

Further strengthening ties, President Kang visited the Czech Chamber of Commerce, a leading entity in Czech economic diplomacy. The discussions centered on leveraging the momentum from ongoing nuclear power negotiations to enhance broader economic cooperation, including collaborative economic diplomacy initiatives and concrete implementation plans at the corporate level. Notably, the Chamber played a key role in joint hydrogen consultation meetings and forums during recent economic diplomacy efforts in September.

In alignment with KOTRA’s European trade investment expansion strategy, President Kang also visited Doosan Skoda Power, a vital component of the “Team Korea” consortium bidding for the Czech nuclear power project. He engaged in detailed discussions with officials from Korea Hydro & Nuclear Power and Doosan regarding strategic support for the nuclear bid and plans for exporting electricity equipment, emphasizing the importance of a unified approach to securing this significant project.

“The Czech Republic and South Korea, as manufacturing powerhouses in Central Europe and East Asia, respectively, are poised to achieve significant synergy through enhanced cooperation,” President Kang stated. “Building on the heightened expectations for economic collaboration driven by recent economic diplomacy and nuclear power initiatives, KOTRA is committed to diligently implementing economic cooperation tasks and facilitating the entry of Korean corporations into the Central European market.”

This visit underscores the deepening strategic economic partnership between South Korea and the Czech Republic, with KOTRA playing a central role in driving forward collaborative initiatives that promise to yield substantial mutual benefits.