President Yoon Suk Yeol said Thursday South Korea and the Czech Republic will collaborate on the design and construction of nuclear reactors if the Central European country picks a Korean consortium as the final winner for a nuclear power plant.

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.

The Czech Republic has become the first country to place an order for Rolls-Royce’s mini nuclear reactors, raising fears in Britain that skilled jobs and exports will disappear abroad. Rolls said the deal,

Rolls-Royce is one of five companies still involved in a government-run competition to win government support to build small-modular reactors in the UK. Rolls-Royce is competing alongside GE-Hitachi, Holtec, Nu-Scale, and Westinghouse Electric.

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