President of South Korean company set to build new units at Czechia’s Dukovany resigns

Joo Ho-wang, president of Korea Hydro & Nuclear Power (KHNP), which won the tender to build two units at the Dukovany nuclear power plant, has resigned. The South Korean news site The Chosun Daily reported the news. KHNP’s Prague office told the Czech News Agency (ČTK) that Joo Ho-wang’s three-year term officially ended in August and that leadership changes are standard procedure at the company. It added that the Dukovany project would continue without disruption and that Joo’s deputy would take his place until a new KHNP chief is appointed. A spokesman for the Czech Ministry of Industry also said the change in leadership should not affect construction.

According to the press, Korea Hydro & Nuclear Power (KHNP) President Joo Ho-wang faced mounting pressure from the ruling Democratic Party (DP) to step down over allegations that he signed an unfavorable deal with US nuclear company Westinghouse, which paved the way for the contract in Czechia.

His resignation, announced on Wednesday, must still be recommended by the Minister of Trade, Industry and Energy and approved by President Lee Jae-myung, as KHNP is a public institution. It is expected to be finalized by the end of this week at the latest, The Chosun Daily reported.

“I have submitted my resignation and am waiting for it to be processed,” Joo Ho-wang, who has been in office since August 2022, said, according to the Korean press.

The Dukovany nuclear power plant currently has four units, which were commissioned between 1985 and 1987. KHNP won the contract to build two more units. At current prices, the cost of building the two reactors at Dukovany exceeds CZK 400 billion.

“The EPC contract has been signed, and nothing suggests that the proper completion of his term should have any impact on the project,” Industry and Trade Ministry spokesman Marek Vošahlík told ČTK in response to the resignation.

He used the abbreviation for Energy Performance Contracting.