Minister Kim Jung-kwan: "Czech Nuclear Power Plant Contract is Normal... A Negotiation of Considerable Value" [First Parliamentary Audit under the Yoon Administration]
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- 2025-10-13 16:35:31
- Updated
- 2025-10-13 16:35:31
Debate Over Disclosure of the Agreement with Westinghouse Electric Company
At the audit of the Ministry of Trade, Industry and Energy by the Trade, Industry, Energy, SMEs and Startups Committee at the National Assembly of the Republic of Korea on the 13th, Minister Kim commented, "Every contract has its shortcomings and inevitably involves trade-offs. We have secured a foothold in the European nuclear power market, and with the new Czech government, negotiations for two additional nuclear reactors are planned. In this respect, I believe it is a negotiation of considerable value."
He added, "Given the issues of trust between South Korea and the United States, and the Agreement for Cooperation between the Government of the Republic of Korea and the Government of the United States of America Concerning Civil Uses of Atomic Energy, I would appreciate it if you could view this from the broader perspective of national interest."
The audit began about 40 minutes late to discuss the adoption of additional witnesses. During the session, KHNP and KEPCO clashed over whether to disclose the settlement agreement that resolved the intellectual property dispute with Westinghouse Electric Company.
Jung Jin-wook of the Democratic Party of Korea (DPK) said, "There is testimony that the presidential office under Yoon Suk Yeol summoned KEPCO board members who opposed the agreement and reprimanded them. It was also revealed that the Minister of MOTIE stated, 'If the Czech nuclear project does not proceed properly, the president could be impeached.' He criticized the agreement as a 'traitorous pact that subjugated Korea's nuclear industry to foreign companies for political purposes.' In response, the People Power Party countered, 'Then let's disclose the agreement.'
However, Minister Kim drew a line, saying, "This is a very important issue in South Korea–United States relations. Disclosure is not desirable." Nevertheless, the issue of whether to disclose the agreement remained contentious.
Debate Over South Korea–United States Trade Negotiations
Debate also continued over the South Korea–United States tariff negotiations. At the audit by the Planning and Finance Committee, the People Power Party criticized the government's negotiations, while the Democratic Party of Korea (DPK) pointed out the Yoon Suk Yeol administration's mistakes. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol emphasized that he would strive for a swift resolution.
Deputy Prime Minister Koo stated at the National Assembly of the Republic of Korea, "We have requested a meeting with U.S. Treasury Secretary Scott Bessent on the 15th. We will make sure to meet."
Deputy Prime Minister Koo is scheduled to depart for Washington, D.C. on the 15th to attend the Group of Twenty (G20) Finance Ministers' Meeting. He said, "A prompt conclusion to the South Korea–United States tariff negotiations is also necessary. Ultimately, we will do our best to reach an agreement that prioritizes national interest and practicality."
When asked whether the government could afford to pay $350 billion in U.S. investments in cash, Deputy Prime Minister Koo replied, "It would be difficult to manage." He added, "I have sufficiently explained our foreign exchange situation to Secretary Bessent previously." He further noted, "Secretary Bessent responded that he understands the situation in our foreign exchange market and will review it internally."
In response to criticism from the opposition that the government’s amateurish approach led to failure in the negotiations with the U.S., he countered, "I'm not saying we did a perfect job, but we did our best and achieved some results compared to Japan."
When asked whether the government plans to disclose the Memorandum of Understanding (MOU) delivered by the United States (U.S.) to the public, he answered, "It was a draft proposed by the U.S. and involves the other party, so there are limits to disclosure." He added, "Once the negotiations progress to a certain point, we will report the results to the public."
aber@fnnews.com Park Ji-young, Hong Ye-ji Reporter