South Korea and the Czech Republic on Friday agreed to collaborate on the entire nuclear energy cycle as President Yoon Suk Yeol visited the European nation to bolster a Korean consortium's bid to secure a major nuclear plant contract.

President Yoon Suk Yeol's state visit to the Czech Republic has deepened the existing strategic partnership between the two countries, paving the way for more diverse and future-oriented cooperation.

“The good news from July was that Team Korea was selected as the preferred bidder for the Czech Republic's new nuclear power plant project. Now is the time to take a step forward for deeper collaboration by initiating a 'Team Czech-Korea' to jointly achieve a nuclear renaissance,” Yoon said.

President Yoon Suk Yeol said his government will closely monitor a landmark 24 trillion won ($17.4 billion) nuclear power plant deal with the Czech Republic through to its final stages, emphasizing its significance as a major achievement in joint economic development.

President Yoon Suk Yeol and Czech President Petr Pavel agreed to strengthen diplomatic, economic and security ties between the two countries, at a time when South Korea is working to finalize the contract with Czech authorities over its 24 trillion won ($18 billion) nuclear export deal.