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Dukovany Nuclear Power Plant, Czech Republic. (Photo courtesy of KHNP) |
[Alpha Biz= Kim Jisun] Seoul, August 19, 2025 – Korea Hydro & Nuclear Power (KHNP) confirmed its withdrawal from Poland’s nuclear power project, signaling a strategic pivot away from Europe amid ongoing controversy over its settlement agreement with U.S. nuclear company Westinghouse.
During a parliamentary session on August 19, KHNP President Hwang Joo-ho stated that the company has “already withdrawn” from the Polish project. When asked about participation in other European tenders – including Sweden (2 units), Slovenia (1 unit), and the Netherlands (2 units) – Hwang’s response suggested KHNP had effectively stepped back from those bids as well.
Hwang emphasized that KHNP is now focusing on the U.S. market, explaining:
“We had to decide whether to continue expending energy in Europe or shift our focus to the U.S. market. We concluded that targeting the U.S. market was the right path forward.”
He further highlighted that KHNP will prioritize the development of Small Modular Reactors (SMRs, below 300MW) as part of its long-term growth strategy.
Industry observers note that KHNP’s retreat from European tenders follows its January settlement with Westinghouse, which some analysts believe may have included implicit or explicit limitations on KHNP’s activities in Europe. Speculation persists that the agreement granted Westinghouse de facto priority access to the European nuclear market.
Last year, KHNP had been selected as the preferred bidder for the Dukovany nuclear power plant project in the Czech Republic, in competition with Westinghouse and France’s EDF. However, Westinghouse subsequently filed a complaint alleging KHNP had infringed on its reactor design patents, leading the Czech government to suspend final contract discussions.
Although the Korean government secured a settlement with Westinghouse in January, critics argue that the agreement contained unfavorable provisions, raising concerns of a “market division” arrangement.
Following the settlement, KHNP and KEPCO have visibly shifted their focus from Europe to other regions. The January agreement reportedly limits their new project bids to Southeast Asia, parts of Central Asia, the UAE, Saudi Arabia, Latin America, and Türkiye.
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
