The Czech government has picked Korea Hydro & Nuclear Power (KHNP) as preferred bidder to build two nuclear reactors, marking South Korea's first overseas order for a large-scale nuclear power project since 2009, Paralel.Az reports citing Reuters.

The final contract, including the value, remains to be negotiated, with completion of the deal targeted for March, South Korea's industry ministry said.

However, the Czech government estimated the cost of a new unit when building two at the same site at 200 billion crowns ($8.65 billion) at current prices.

KHNP, a subsidiary of Korean state utility KEPCO, beat a rival bid from France's EDF as South Korea seeks to capitalise on a revival of interest globally in nuclear power, with countries seeking to enhance energy security and lower carbon emissions.