The debate over ”50-year nuclear power royalties” has escalated... South Korea has even reached a ”deal to abandon” the US and EU markets

It has become clear that the agreement reached between Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Co. (KEPCO) in the process of winning the Czech nuclear power plant order has prevented them from entering the North American and European markets.
While Westinghouse will be able to bid in these countries, KHNP and KEPCO will only be able to receive orders for new nuclear power plants in certain countries, such as the Middle East, and the dispute over unfair contracts is expected to escalate.
According to the Korean nuclear power industry on the 20th, the "Global Agreement" signed by KHNP, KEPCO and Westinghouse in January this year includes the following: North America (USA, Canada, Mexico), Thailand,
It was clearly stated that only Westinghouse could enter EU member states, the UK, Japan, Ukraine, etc., excluding Korea. KHNP could enter these countries only.
△Southeast Asia (Philippines, Vietnam) △Central Asia (Kazakhstan) △South Africa △North Africa (Morocco, Egypt)
△South America (Brazil, Argentina), △Yellow △Turkey, △United Arab Emirates (UAE), △Saudi Arabia, etc.
The contract period is set at 50 years, and royalties to be paid to Westinghouse will be more than 1 trillion won per nuclear power plant.
The agreement includes a clause for the purchase of goods and services worth $650 million per reactor. In addition, a clause for the payment of a technology license fee of $175 million per reactor was also included.
△The conditions also include that if Korean companies independently develop and export next-generation nuclear power plants, such as small modular reactors (SMRs), they must pass Westinghouse's technical independence verification.
KHNP and KEPCO will also issue a letter of credit worth $400 million per unit to Westinghouse to guarantee payment of royalties and orders for new nuclear power plants.
This agreement was reached during the final contract process for the 26 trillion won order for the new Dukovany nuclear power plant in the Czech Republic. Westinghouse participated in the bid but lost to KHNP.
The Korean company filed an intellectual property lawsuit in a US court, claiming that the Korean-style nuclear power plant APR1000 being exported to the Czech Republic contains its own source technology.
In January of this year, Westinghouse and KHNP/KEPCO reached an agreement to end all intellectual property-related disputes, and the details of that agreement have now been made public.
In connection with this, the Presidential Office has instructed the Ministry of Trade, Industry and Energy, the responsible government agency, to investigate the facts.
Presidential Spokesperson Kang Yoo-jung said that at the meeting, he instructed the Ministry of Trade, Industry and Energy to "find out the facts, including related reports, and report them" and "make sure that the public's doubts about the export of nuclear power plants to the Czech Republic are resolved."
Kang said, "The process by which KEPCO and KHNP, which are public institutions, negotiated and concluded a contract with Westinghouse was conducted in accordance with the law and regulations.
"At the morning inspection meeting, it was decided that an investigation would be conducted into whether all principles and procedures had been followed, as instructed by the chief secretary," he said.