It has been revealed that over 90 percent of nuclear power plants with operating licenses that have expired in major overseas countries are undergoing safety assessments and extending their operational lifespans for continued operation.
The active pursuit of continued operation by various countries is a result aimed at addressing energy security and achieving carbon neutrality. In contrast, it is projected that six out of ten nuclear power plants in South Korea with operating licenses expiring by 2030 will inevitably face shutdowns.
This is a repercussion of the previous government’s anti-nuclear policy, which did not extend operating licenses in a timely manner. Analysis suggests that the necessity for relatively expensive alternative power generation such as liquefied natural gas (LNG) will lead to potential losses of trillions of won during nuclear plant shutdown periods.
According to the Korea Energy Information Culture Agency on Feb. 12, a total of 252 nuclear power plants worldwide had reached the end of their initial operating licenses as of the end of 2022. Out of the 252, 233 plants have received approval for continued operation and are currently in operation. This represents a continuation approval rate of 92.5 percent.
In contrast, among the 25 nuclear power plants currently in operation in South Korea, not a single one has received approval for continued operation. This is because the Moon Jae-in administration permanently shut down Kori Unit 1 and Wolsong Unit 1.
This year, a total of 10 nuclear power plants, equivalent to 40 percent of all operating reactors, are undergoing continued operation reviews. Due to applying for continued operation one year before the expiration of their operating licenses, a total of 6 reactors, including Kori Unit 2, which is currently undergoing assessment while in a state of suspension, face unavoidable periods of shutdown. This situation arises from the failure of the Moon administration to submit continued operation requests on time, typically required three to four years before the expiration of operating licenses.
The nuclear power industry expects that Kori Unit 3, which has an operating license that expires in September this year, will be suspended for over a year and a half from March to June 2026. Typically, the process for determining whether to continue operating a nuclear reactor involves a year-and-a-half period for the Nuclear Safety and Security Commission to prepare a “Periodic Safety Assessment Report,” a two-year period for operating change permit review, and time for document preparation, totaling around three and a half to four years. However, the application for continued operation of Kori Unit 3 was repeatedly postponed during the Moon Jae-in administration and only submitted in September 2022 after the inauguration of the Yoon Suk-yeol government. As a result, the situation necessitates a period of shutdown equivalent to the time elapsed beyond the appropriate application deadline.
Due to similar reasons, it is anticipated that Kori Unit 4 and Hanbit Unit 1, with operating licenses that expire in August and December next year, respectively, as well as Hanbit Unit 2 and Wolsong Unit 2, with licenses that expire in September and November 2026, will experience operational suspensions ranging from a few months to as long as one year and six months. It is forecasted that only reactors such as Hanul Units 1 and 2 and Wolsong Units 3 and 4, with operating licenses that expire after 2027, will likely continue operation without interruptions.
Korea Hydro & Nuclear Power (KHNP) has estimated that the country could incur losses of approximately 107.6 trillion won for 10 years if the 10 nuclear power plants undergoing continued operation reviews this year are not kept in operation, mainly due to the need for alternative power generation such as LNG. Simply put, the suspension of one nuclear power plant could lead to losses exceeding 1 trillion won per year.
Experts emphasize that considering the surging demand for electricity due to factors like the creation of the Yongin Semiconductor Cluster in Gyeonggi Province the government should actively promote not only the construction of new nuclear power plants but also the expansion of continued operation. They suggest that while expediting approvals for continued operation there should also be considerations for improving the continued operation permit system.
Unlike the United States and Japan, where nuclear power plants receive continued operation permits every 20 years, South Korea requires permits every 10 years, leading to relatively higher assessment costs. Furthermore, even with a 10-year permit, the time spent on safety assessments is not excluded from the operational period, resulting in a practical operating period of less than 10 years. This issue has been raised as a concern.
The government is expected to include plans for both new nuclear power plant construction and the promotion of continued operation in the draft of the 11th Basic Plan for Power Supply, which outlines the basic direction of power supply and facility plans, next month.