Dispute between KHNP and Westinghouse...Czech nuclear power plant green light

[Anchor]
Korea Hydro & Nuclear Power Co. has ended its intellectual property dispute with Westinghouse, which was the biggest obstacle to winning orders for Czech nuclear power plants.

Details of the agreement have not been disclosed, but the final contract for the Czech nuclear power plant, which is due in March, has been given a green light for now.

I'm connecting with a reporter to find out more.

Reporter Choi Ah-young, the dispute was settled about two months before the final contract for the Czech nuclear power plant, right?

[Reporter]
Yes. Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power (KEPCO) officially reported the end of the dispute this morning.

It said it had agreed to end the intellectual property dispute with Westinghouse in the United States and cooperate in the global nuclear power plant market.

He explained that he will be able to resolve the uncertainty caused by legal disputes and become more active in overseas nuclear power plant ordering activities.

Westinghouse, a U.S. nuclear power company, also said a settlement agreement on the dispute has been reached and that it has laid the groundwork for future cooperation to proceed with new nuclear projects.

Until now, the intellectual property dispute between KHNP and Westinghouse has been considered the biggest obstacle to the final contract for the Czech nuclear power plant.

The settlement of the dispute has also given a green light to the final contract scheduled for March.

[Anchor]
Have the details of this negotiation been disclosed as well?

[Reporter]
The details of the negotiations were not disclosed in accordance with the confidentiality commitments of both sides.

Inside and outside the industry, there is speculation that KHNP may have given royalties or work to Westinghouse in connection with the export of Czech nuclear power plants.

Some observers say that they may have made significant concessions, such as jointly promoting exports of other nuclear power plants in the future.

Earlier, Westinghouse had put a brake on exports, saying KHNP's latest Korean nuclear power plant to supply to the Czech Republic was based on its source technology.

On the other hand, KHNP has shown that there is no problem with its own exports because it has succeeded in localizing it.

Through this negotiation, KHNP is believed to have chosen a strategy to expand the nuclear power plant export market in cooperation with Westinghouse rather than continuing the uncertain dispute.

So far, I'm YTN Choi Ah-young in the Ministry of Economy.