
Korea Hydro & Nuclear Power (KHNP) has been selected as the preferred bidder for the Czech Republic’s new nuclear power project. The photo shows a view of the Dukovany Nuclear Power Plant in the Czech Republic. (Image Provided by Korea Hydro & Nuclear Power)
SEOUL, Jan. 18 (Korea Bizwire) — In a significant strategic shift, Korea Hydro & Nuclear Power (KHNP), Korea Electric Power Corporation (KEPCO), and U.S.-based Westinghouse Electric Company have agreed to set aside ongoing intellectual property disputes and jointly pursue global nuclear power projects under the newly formed “Team KORUS” alliance.
Though the specific terms of the agreement reached on January 16, 2025, remain confidential, industry sources report that the deal includes a flexible division of major nuclear export markets and collaborative efforts to avoid direct competition.
The two sides plan to jointly enter traditional nuclear power markets, particularly in Europe, while adjusting their level of cooperation depending on regional dynamics.
The move marks a departure from past tensions when KHNP and Westinghouse competed directly for nuclear contracts, most notably in the Czech Republic. Under the new alliance, both parties aim to prevent such conflicts by promoting joint ventures.
Europe’s nuclear energy demand, once dampened by the 2011 Fukushima disaster and the rise of anti-nuclear sentiment led by Germany, is now resurging. Energy security concerns stemming from the Russia-Ukraine war and soaring electricity demands driven by the artificial intelligence revolution have reignited interest in nuclear power.
Countries like France and Finland are doubling down on nuclear energy, while the Czech Republic, Poland, Bulgaria, Turkey, the UK, and the Netherlands are pursuing new nuclear projects.
KHNP is actively bidding for projects in Poland, while KEPCO is targeting opportunities in the UK and Turkey. While some analysts warn that profits may shrink for Korean firms under this joint strategy compared to independent bids, the partnership is viewed as a long-term win for both nations.
Combining U.S. technological expertise with South Korea’s proven capabilities in design, construction, and operation strengthens their position in an expanding global market.
Prolonged legal battles posed a risk to business stability, raising concerns among potential clients. The alliance with Westinghouse is seen as a way to mitigate those concerns and expand market share.
A senior government official noted, “Continuing lawsuits would have hindered both sides from entering key markets. This partnership creates one of the most powerful industrial alliances in the global nuclear industry, offering numerous win-win opportunities.”
The U.S. government has also welcomed the deal, viewing it as a strategic move to counter China’s and Russia’s growing influence in the global nuclear sector.

This file photo, provided by the state-run Korea Hydro & Nuclear Power (KHNP), shows the Shin Hanul nuclear reactors in Uljin, North Gyeongsang Province, on May 22, 2022. (Image courtesy of Yonhap)
U.S. Energy Secretary Jennifer Granholm praised the partnership, stating, “This collaboration paves the way for billions of dollars in joint ventures while creating and sustaining hundreds of thousands of jobs in the civilian nuclear sector. Together, the U.S. and South Korea can offer a highly competitive and non-proliferation-compliant alternative to the global market.”
Westinghouse, known for its robust intellectual property but lacking in construction capabilities, sees clear benefits in partnering with South Korea’s strong industrial ecosystem. This synergy was recently demonstrated when Westinghouse and Hyundai Engineering & Construction secured a $15 billion nuclear power project in Bulgaria.
Despite this partnership, South Korea is keeping the door open for independent ventures in emerging markets. Notably, it is actively pursuing nuclear projects in Saudi Arabia, following its success with the UAE.
A senior government official remarked, “Solo bids are still an option. The Middle East holds promising opportunities, and we will soon see how this agreement influences market dynamics.”
As 2025 unfolds, the “Team KORUS” alliance is poised to reshape the global nuclear energy landscape, blending U.S. innovation with South Korean execution to meet the world’s growing energy demands.
M. H. Lee (mhlee@koreabizwire.com)