KHNP and Westing House conclude 'Intellectual Property Dispute'

The intellectual property dispute, which has been drawn by Korea Hydro & Nuclear Power Co. and Westinghouse in the U.S. for more than two years since 2022, has come to an end with an agreement between the two sides.

Korea Electric Power Corp. and Korea Hydro & Nuclear Power Corp. said they will officially end the intellectual property dispute and strengthen cooperation in the global nuclear power market.

KEPCO said the agreement allowed it to become more active in winning nuclear power plants overseas and plans to strengthen its competitiveness in the global nuclear power market by restoring cooperation with Westinghouse.

Until now, the intellectual property dispute between KHNP and Westinghouse has been considered the biggest obstacle ahead of the final contract for the construction of a new Czech nuclear power plant in March.

The contents of the deal were not disclosed according to the confidentiality promise, but inside and outside the industry, KHNP may have made significant concessions, such as giving trillions of royalties or work to Westinghouse related to Czech nuclear power plant exports and co-promoting other nuclear power plants in the future.

Earlier, Westinghouse had put a brake on exports, saying that the nuclear power plant that KHNP wants to supply to the Czech Republic was based on its original technology, and KHNP has succeeded in localizing it, so it has no problem with its own exports.