South Korean President Yoon Suk Yeol and Slovak Prime Minister Robert Fico signed a memorandum of understanding (MOU) on comprehensive energy cooperation during Fico’s three-day visit to South Korea. This is Fico’s second visit to Seoul. He previously visited South Korea during his first term as prime minister in 2007. The MOU covers carbon-free energy sources, including nuclear power, renewable energy and hydrogen. They also adopted a statement on forging a strategic partnership encompassing cooperation in security, defence, economy, trade, energy and technology.
Slovakia, which has five nuclear reactors generating half of its electricity with another reactor under construction, plans to build a new nuclear unit with a capacity of up to 1,200 MWe at the Jaslovske Bohunice plant. Korea Hydro & Nuclear Power (KHNP) has expressed interest in the Slovak project, after being selected in July as the preferred bidder for a similar project in the Czech Republic.
During the visit, South Korean Minister of Trade, Industry & Energy Ahn Dukgeun and Slovakian Deputy Prime Minister and Minister of Economy Denisa Sakova sign MOUs on a trade and investment promotion framework and comprehensive energy cooperation.
During his meeting with Fico, Yoon said forging a strategic partnership with Slovakia will lay the groundwork for deepening bilateral ties in various sectors, including trade and investment, energy and supply chains. “South Korea is ready to further advance cooperation with Slovakia, a country that shares our values and an important partner in Europe, amid the complex global crisis,” Yoon said in his opening remarks. He added that that the elevated ties will mark “a new milestone in their history of bilateral cooperation and a cornerstone for future ties” in the next three decades.
Fico said he appreciates South Korea’s “positive response” to collaboration in the nuclear energy industry and expressed hope for continued discussions toward deeper cooperation. “I also wish to discuss cooperation in trade and economic investment, including the nuclear energy sector,” he said through a translator. “Many Korean companies are interested in additional investment, and we are committed to providing a favourable environment, especially in terms of economic conditions.”
Following the bilateral talks, South Korea became the first Asian country with which Slovakia agreed a strategic partnership. It has similar ties with the USA, the UK, France, Germany, the Czech Republic, Poland, Hungary and Azerbaijan. South Korea, in turn, now has the same level of bilateral relations with all four Central European countries in the Visegrad Group – Slovakia, Poland, Hungary and Czechia.
Researched and written by Judith Perera
