KHNP, Westinghouse settle dispute, clearing way for Czech nuclear power deal

The logo of Westinghouse Electric Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in Villepinte near Paris, France, June 26, 2018. [REUTERS]

 
Two state-run energy companies settled an intellectual property dispute with Pennsylvania-based Westinghouse, clearing a major obstacle to finalizing the signing of a $17 billion nuclear deal with the Czech Republic.
 
The two sides officially finalized the settlement during a ceremony held in the United States on Jan. 16, Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Corporation (Kepco) said in a joint statement Friday.
 

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"With this agreement, both sides have restored their traditional cooperative relationship spanning nearly 50 years," said Kepco CEO Kim Dong-chel in the statement. 
 
"This also allows Kepco to ease uncertainties from legal disputes and actively pursue overseas nuclear power plant projects."
 
Westinghouse had previously claimed that KHNP’s nuclear reactors were based on its technology and appealed the Czech Republic’s decision to select KHNP as the preferred bidder to construct two nuclear reactors.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]