Yoon vows to revitalize nuclear industry

Oct 31, 2024, 10:17 am

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President Yoon Suk-yeol attends a ceremony to commemorate the completion of the Shin-Hanul 1 and 2 units, and groundbreaking for the Shin-Hanul 3 and 4 units in Uljin, 215 kilometers southeast of Seoul, on Oct. 30, 2024./ Source: Yonhap

AsiaToday reporter Hong Sun-mi

“We need to amend the system to allow nuclear plants confirmed to be safe to continue operating,” President Yoon Suk-yeol said on Wednesday.

“This is the way to revitalize our economy and the nuclear industry,” Yoon said during a ceremony to commemorate the completion of the Shin-Hanul 1 and 2 units, and groundbreaking for the Shin-Hanul 3 and 4 units in Uljin, located about 215 kilometers southeast of Seoul.

He pointed out the previous government’s nuclear phase-out policy is causing astronomical amount of loss as it does not allow extending the operating periods of existing safe reactors beyond their design lifetime. “We will improve the system as soon as possible so that we can safely use existing nuclear plants for a long time and introduce innovative nuclear plants in the future,” he said.

In December 2021, Yoon had visited the site as a presidential candidate and declared the abolition of the Moon Jae-in government’s nuclear phase-out policy.

The Shin-Hanul 1 and 2 units are the first nuclear plants to be completed since Yoon’s visit, and Shin-Hanul 3 and 4 units, whose construction has been suspended under the previous administration, are the first nuclear plants to start construction.

He said his government will revitalize the nuclear energy ecosystem, and outlined plans for a special law that promotes nuclear sector growth and long-term consistency in nuclear power-related policies to “ensure that politics do not undermine the future of the nuclear industry.”

Yoon said South Korea is upon a “nuclear renaissance” with a 1,000 trillion won (US$726 billion) global nuclear energy market. “We will build on our recent progress in the Czech nuclear power project as a stepping stone to expand exports and fully restore the country’s nuclear sector,” he said.

He also outlined plans for a “2050 Mid- and Long-term Nuclear Power Roadmap” this year to present vision and comprehensive plans of the nuclear power plant industry.

#Yoon Suk-yeol #nuclear power plant #Shin-Hanul