26 Jun 2024

South Korean Hyundai E&C and Glavbolgarstroy sign Memorandum of cooperation

As one of the leading companies in nuclear energy worldwide, Hyundai E&C presented its activities and vision for the safe and innovative development of nuclear energy in Bulgaria at a special event in Sofia. Within the framework of the conference, the South Korean company signed a Memorandum of cooperation and understanding with Glavbolgarstroy on the implementation of important infrastructure projects for Bulgaria and the region, including units 7 and 8 of the Kozloduy NPP.

As main contractor of numerous strategic projects in Southeast Europe, Glavbolgarstroy prioritizes its work on significant infrastructure sites, including the construction of energy facilities and infrastructure. The company is committed to implementing the latest technologies and environmental standards to ensure sustainable and efficient development of the energy network in the region.

The CEO of Hyundai Engineering & Construction Co., Yang Joon Yun, stated that the company has rich experience in the field of nuclear power and built the first nuclear power plant in Korea in 1970. Over the past 50 years, Hyundai Engineering & Construction Co. has worked intensively on the construction of large nuclear power plants and small modular reactors.

"It is a great honor for us to be chosen as a partner in the Kozloduy NPP, which represents a very valuable energy source for Bulgaria and the region," added Yang Joon Yun.

Hyundai Engineering & Construction is the second-largest nuclear construction company in the world, with a 54-year history. It has implemented over 120 oil and gas projects for the world's largest companies. To date, the Korean company has built 24 nuclear units, with three currently under construction. The total capacity of all nuclear power plants built by Hyundai Engineering & Construction amounts to 27 gigawatts.

The two reactors with AP1000 technology, which Hyundai Engineering & Construction will build in Bulgaria, will be the first with such technology in Europe.

In addition to Glavbolgarstroy, Hyundai Engineering & Construction Co. signed a Memorandum with the Bulgarian Chamber of Construction (BCC).