Czech Republic and South Korea to cooperate on high-speed rail projects

Czech Prime Minister Petr Fiala and South Korean President Yoon Suk Yeol have agreed to strengthen cooperation between their two countries, with a focus on high-speed rail projects and joint research initiatives. Fiala announced the new cooperation on Friday during the state visit of Yoon and other South Korean officials to the Czech Republic.

During their meeting in Prague on September 20, Fiala stated that Korean companies could participate in public-private partnership (PPP) projects, particularly in the construction of high-speed railways and motorways in Czechia.

Fiala highlighted the growing intensity of Czech-Korean relations, especially in the security and industrial sectors, and expressed optimism that this collaboration would benefit businesses and citizens in both countries. He noted the success of previous Korean investments, such as those by Nexen Tire and Hyundai, as evidence of the strong business ties.

In addition to infrastructure, both leaders emphasized the importance of research collaboration. Fiala mentioned that the two countries should prioritize joint projects in fields such as batteries for electric vehicles, hydrogen technologies, and artificial intelligence.

“We are interested in strengthening existing scientific projects and creating new research programs and centers,” Fiala said, stressing the potential of these collaborations to drive innovation in key sectors.

President Yoon announced that Korea plans to invest $37 million (about CZK 830 million) in joint research over the next ten years. This investment will support research in nuclear fuel, medicine, AI, and other emerging technologies in both countries.

Yoon also highlighted the Czech government’s recent decision to involve South Korea’s KHNP in the construction of two new reactors at the Dukovany nuclear power plant as a major opportunity for deepening the partnership.

During the state visit by South Korean officials to Prague, the two countries signed several memoranda aimed at enhancing economic and innovation cooperation, focusing on trade, supply chains, and energy. Agreements signed include collaboration on high-speed rail links as well as cooperation in the reconstruction of Ukraine.

Officials also confirmed an action plan to implement their strategic partnership over the next three years, with additional collaboration in fields such as modular reactors, energy engineering, and aerospace.