Market Chatter: Czech Court Blocks KRW26 Trillion Nuclear Deal With South Korea Over EDF Complaint

MT Newswires Live

2025/05/07

A Czech court on Tuesday halted the signing of a $18.6 billion nuclear reactor deal between South Korea's Korea Hydro & Nuclear Power (KHNP) and Czech energy firm CEZ's subsidiary Elektrarna Dukovany II, pending review of a legal complaint filed by French rival EDF, Yonhap News reported Tuesday.

KHNP is a subsidiary of Korea Electric Power Corporation (KRX:015760).

The injunction follows EDF's challenge of the tender process after losing the bid. The decision delays South Korea's first overseas nuclear project since 2009, according to the report.

The contract, which was set to be finalized on Wednesday, involves the construction of two reactors at the Dukovany Nuclear Power Plant. Czech Prime Minister Petr Fiala expressed confidence in a swift resolution, as a South Korean delegation arrived in Prague for the planned signing.

Shares of Korea Electric Power Corporation rose more than 3% in recent trade on Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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