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Lee and Czech PM Set Stage for Expanded Economic Cooperation After Nuclear Plant Agreement

Seoul: President Lee Jae-myung announced that South Korea's recent nuclear plant export agreement with the Czech Republic has established a foundation for expanding bilateral economic cooperation during a phone conversation with Czech Prime Minister Petr Fiala. According to Yonhap News Agency, the leaders conducted their first official dialogue, celebrating the signing of the final contract for the nuclear power plant construction project. They expressed optimism that this project would become a cornerstone for enhanced economic ties, as stated by presidential spokesperson Kang Yu-jung. "The leaders committed to working closely to broaden this collaboration beyond nuclear energy to include high-tech industries, infrastructure, and energy, aiming for comprehensive cooperation across a wide range of sectors," Kang conveyed to reporters. On June 4, Korea Hydro and Nuclear Power Co., a state-run entity, finalized the contract to construct a nuclear power plant in the Czech Republic, following the removal of a court injunction that had previously blocked the deal. The agreement, valued at 26 trillion won (US$18.6 billion), represents South Korea's first overseas nuclear power plant contract since 2009, when the country secured a deal to build the Barakah nuclear power plant in the United Arab Emirates. During the 20-minute conversation, President Lee requested the Czech government's support for approximately 100 Korean companies operating within the European nation. He also extended an invitation to Prime Minister Fiala to visit South Korea, to which the prime minister responded with gratitude, according to Lee's office. This discussion marks President Lee's fourth phone call with a foreign leader since taking office last week, following conversations with leaders from the United States, Japan, and China. This year signifies the 35th anniversary of diplomatic relations between South Korea and the Czech Republic, alongside the 10th anniversary of their strategic partnership.

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