▲ President Yoon Suk Yeol speaks during a Cabinet meeting at the presidential office in Seoul on July 30, 2024. (Pool photo) (Yonhap)

Yoon-Cabinet meeting

Yoon touts Czech project as 'bridgehead' for expansion into global nuclear market

SEOUL, July 30 (Yonhap) -- President Yoon Suk Yeol on Tuesday lauded the selection of a South Korean consortium as the preferred bidder for the construction of two nuclear reactors in the Czech Republic, saying the project establishes a "bridgehead" for the country's expansion into the global nuclear energy market.

Yoon made the remarks during a Cabinet meeting at the presidential office, referring to South Korea's first overseas nuclear power plant project since 2009, valued at an estimated 24 trillion won (US$17.3 billion).

"A strong bridgehead has been established to enable our entry into the 1,000 trillion-won global nuclear power market," he said. "I thank deeply all the businesspeople and nuclear sector workers who ran together as Team Korea, and all the people who gave their support."

Yoon again stated plans to draw up a special bill supporting the nuclear power industry, saying it took "much effort" in the process of being selected as the preferred bidder to overcome damaged trust, which he attributed to the nuclear phase-out policy of the previous administration.

"I will personally visit the Czech Republic at an early date to discuss the success of the nuclear power project and ways for in-depth bilateral cooperation," he said.

Yoon also noted the success of a different "Team Korea" competing at the Paris Olympics.

Naming the athletes who have won medals so far, he praised them for further elevating South Korea's status in the world.

Yoon additionally reaffirmed plans to protect and support retail investors by scrapping the financial investment income tax, which is set to be introduced next year, and adopting tax incentives that encourage dividend payments.

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