South Korea and the Czech Republic on Friday agreed to collaborate on the entire nuclear energy cycle as President Yoon Suk Yeol visited the European nation to bolster a Korean consortium's bid to secure a major nuclear plant contract.

The governments, state-run firms and private-sector companies of South Korea and the Czech Republic signed 13 memoranda of understanding to team up with one another for the entire process and delivery of the nuclear power unit construction project.

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.