The South Korean company Hyundai Engineering & Construction (HDEC) started active preparations for the construction of the two new nuclear units in Bulgaria. Just a few hours upon signing the engineering agreement with Westinghouse and the state-owned Kozloduy Nuclear Power Plant - New Builds last Monday, the first contract with a key Bulgarian company for the project was also executed. Under the terms of the agreement, the South Korean company will partner with Glavbolgarstroy to carry out part of the design and engineering activities on the Kozloduy Nuclear Power Plant (KNPP) Project - Units 7 and 8.

The partnership between HDEC and Glavbolgarstroy was formalized with a contract signed during a special ceremony at Hyundai's new office building in Sofia. The event was attended by a number of stakeholders involved in the construction of the new nuclear units at Bulgarian nuclear power plant.

"Today marks an important moment as Hyundai embarks on a new challenge in Bulgaria. We have signed the contract for the project to build new capacities at the Kozloduy Nuclear Power Plant, and with the opening of our office in Bulgaria, we are taking a significant step forward in pursuing this historic endeavor," said Yong-Joon Yoon, President and CEO of Hyundai Engineering & Construction. "We are committed to expanding our activities in Bulgaria. Our goal is to establish a regional hub for Europe while contributing to Bulgaria's economic and industrial development and fostering mutual economic growth," he added. According to him, Bulgaria will play a vital role in Hyundai's global strategy. "We will enhance the technical capabilities of our local partners and develop skilled professionals to actively enter the European nuclear market," Yoon stated during the ceremony.

"I want to congratulate Hyundai Engineering & Construction and Westinghouse on the signing of their contract today. Bulgaria has been waiting for the construction of new nuclear capacities for 20 years. It is symbolic that exactly 50 years ago, in 1974, Bulgaria's first nuclear reactor started operating. It is significant that after so many decades, we once again have the opportunity to reaffirm our country’s strategic position on the nuclear map," commented Kalin Peshov, Chairman of the Board of Glavbolgarstroy Holding, during the ceremony.

"It is impressive that Hyundai Engineering & Construction has built 24 nuclear reactors globally, but what is even more important to us is that we share the same corporate values and philosophy. Just like your company, Glavbolgarstroy – in its 55-year history – has never missed a deadline or exceeded the budget of its projects. Building on this legacy, we are offering our support today, and we believe that with your vast experience and expertise, we can successfully build Units 7 and 8 of the Kozloduy Nuclear Power Plant," Peshov concluded.

The Deputy Mission Chief and Chargé d'Affaires of the Republic of Korea, Ji Yi Jo, also attended the contract signing ceremony. She emphasized that the project for Bulgaria is crucial not only to the Bulgaria’s energy future but also for the partnership between Bulgaria and the Republic of Korea. According to her, the new units will provide a reliable source of electricity for the country's energy mix and offer opportunities for energy independence, diversification, and supply security. The diplomat congratulated Hyundai and Glavbolgarstroy on the signed contract, expressing hope that it would lay the groundwork for long-term cooperation.