Czech Dukovany Nuclear Power Plant Contract Award, EU Foreign Subsidy Allegations Resolved

The Czech Dukovany nuclear power plant construction project led by Korea Hydro & Nuclear Power has passed the European Union (EU)'s review under the Foreign Subsidies Regulation (FSR), meaning it will not be subject to further investigation. The European Commission announced on the 5th local time that it had completed its preliminary review of KHNP and Team Korea and would not proceed with a deeper investigation. Earlier, EDF, the French stateowned electricity company, had raised concerns, suggesting that KHNP won the contract at a low price with government support, but KHNP explained that it had not received any government subsidies and that the tender process had begun before the FSR was introduced. With this decision, it is being assessed that much of the legal and regulatory uncertainty surrounding the Dukovany nuclear power plant project, reportedly worth around 26 trillion won, has been largely resolved. Minister of Trade, Industry and Energy Kim Jungkwan stated that this ruling confirms that international norms and the EU system were faithfully observed.