▲ On Monday, September 2nd, Vladimir Malinov, Bulgaria’s Minister of Energy, visited Hyundai E&C’s headquarters in Gye-dong, Seoul

… The Bulgarian government delegation, including the Minister of Energy and the Bulgarian Ambassador to Korea, visited to discuss comprehensive cooperation on Bulgaria’s nuclear power and social overhead capital (SOC) projects.

… Ahead of the engineering contract for Kozloduy Units 7 & 8 scheduled for October, both parties reviewed the progress of the project and explored ways to enhance mutual cooperation.

▲ Project expected to serve as milestone in expanding Hyundai E&C’s presence in the European nuclear power market following the award of the large-scale Bulgarian nuclear power project

… Following the successful completion of the prequalification process as the sole bidder, high-level government visits and localization strategies are laying a foundation for favorable cooperation.

… Hyundai E&C is committed to providing Bulgaria with safe and reliable energy based on its global top-tier nuclear power plant construction capabilities.

[ Hyundai E&C Discusses Expansion of Nuclear Power and Infrastructure Projects with Bulgaria’s Minister of Energy. On Monday, September 2nd, Yoon Young-Joon, President and CEO of Hyundai E&C (right), takes a commemorative photo with Vladimir Malinov, Bulgaria’s Minister of Energy (left), who visited Hyundai E&C’s headquarters in Gye-dong, Seoul ]

On Monday, September 2nd, Hyundai E&C announced that it held in-depth discussions with a delegation led by Vladimir Malinov, Bulgaria’s Minister of Energy, at its headquarters in Gye-dong, Seoul. The discussions centered on the successful execution of the large-scale Kozloduy nuclear power plant construction project and the expansion of cooperation in other social overhead capital (SOC) infrastructure projects in Bulgaria.

Bulgaria is currently pursuing a project to add two large-scale nuclear power units at the Kozloduy nuclear power plant complex and has selected Hyundai E&C as the preferred bidder. The meeting was attended by Yoon Young-Joon, President and CEO of Hyundai E&C, Vladimir Malinov, Bulgaria’s Minister of Energy, Petar Kraytchev, Bulgarian Ambassador to Korea, and Petyo Ivanov, CEO of Bulgaria’s Kozloduy Nuclear Power Plant New Build (KNPP-NB). They reached a consensus on the engineering contract scheduled for October and reviewed the progress of the Kozloduy nuclear power project, discussing methods to enhance mutual cooperation.

In his welcoming remarks, Yoon Young-Joon, President and CEO of Hyundai E&C, remarked, “Hyundai E&C is working hard to carry out all necessary procedures following its selection as the preferred bidder, with a strong emphasis on localization and contributing to Bulgaria’s future growth. We will leverage our world-class construction capabilities in the nuclear power sector to successfully execute the Kozloduy project and provide Bulgaria with a safe and reliable source of energy.”

In response, Bulgaria’s Minister of Energy Vladimir Malinov, stated, “I am confident that Hyundai E&C, as a highly reliable partner, will successfully carry out this project. We hope that Bulgaria and Hyundai E&C will become strong partners in the European nuclear power construction sector, and we will actively support the expansion of mutual cooperation through new projects in Bulgaria.”

[ On Monday, September 2nd, Yoon Young-Joon, President and CEO of Hyundai E&C (left), Vladimir Malinov, Bulgaria’s Minister of Energy (center), and Lee Chul-gyu, Chairman of the National Assembly's Trade, Industry, Energy, and SMEs Committee (right), take a commemorative photo at Korea’s National Assembly ]

Following his visit to Hyundai E&C, the Energy Minister visited Korea’s National Assembly and public financial institutions to seek support as part of efforts to ensure the smooth completion of the project.

Earlier this year, in February, Hyundai E&C was the sole company to pass the prequalification (PQ) for the Kozloduy large-scale nuclear power plant construction project in Bulgaria. Among the leading global companies participating in the bid, Hyundai E&C was the only one to meet all the stringent prequalification requirements, securing Bulgarian parliamentary approval. This success demonstrated Hyundai E&C’s unparalleled construction and technical competitiveness, robust financial soundness, and the global capabilities and reach of Korea’s nuclear power construction sector, paving the way for its entry into the European market.

After receiving the go-ahead for entry into the European nuclear power market, Hyundai E&C began its major localization efforts in June by organizing the "Hyundai E&C Nuclear Power Roadshow 2024" in Sofia, Bulgaria’s capital.

During the roadshow, President and CEO Yoon Young-Joon met with high-ranking officials, including President Rumen Radev and leaders of the first and second political parties, laying the foundation for friendly cooperation. Hyundai E&C also signed MOUs with the Bulgarian Construction Association and the general construction company GBS and focused on establishing a foundation for practical cooperation through business meetings with partners companies and recruitment consultations with students from the country’s leading universities.

A Hyundai E&C representative stated, “Hyundai E&C has proactively prepared for entry into the global nuclear power market by becoming the first Korean construction company to obtain ISO 19443 certification* for the entire lifecycle of nuclear power plants, including nuclear power supply chain quality management systems. As a Total Solutions Provider in the nuclear power sector, Hyundai E&C will expand its reach in nuclear power plant construction across Europe, starting with Bulgaria, and continue to create opportunities for participation in related industrial infrastructure construction sectors.”

*ISO 19443 is an international standard for nuclear power quality management developed to enhance the safety and quality of the nuclear power supply chain. It has recently become a prerequisite condition for participating in nuclear projects in major European nuclear power producers and client countries.