President Yoon Suk Yeol held out the prospect of forging a "nuclear energy alliance" with the Czech Republic Thursday, pledging to ensure wide-ranging cooperation with Prague over the design and construction of nuclear reactors if a Korean consortium wins the country's power plant

The Czech Republic has chosen UK firm Rolls-Royce SMR after assessing seven potential technology suppliers for its proposed small modular reactor programme.

Rolls-Royce is on course to secure the first order from a European government to build a fleet of mini nuclear reactors after being selected as the preferred supplier in a competition overseen by the Czech government.

The British engineering giant's stock rose 5% - taking gains since Tufan Erginbilgic (pictured) became chief exec at the start of 2023 to 462%.

By Albin Sybera CEZ, the Czech Republic's state-controlled energy group, has chosen the UK's Rolls Royce as its partner to develop small modular reactors (SMRs). The decision is a blow to rival bidders Westinghouse and GE Hitachi of the US.