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South Korean Government Planning to Further Develop Radiation Industry
To Create New Business Opportunities
South Korean Government Planning to Further Develop Radiation Industry
  • By Choi Moon-hee
  • November 20, 2019, 08:54
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The Korean government plans to utilize radiation technologies to create new business opportunities.

The Ministry of Science and ICT came up with plans to accelerate the growth of the radiation industry, develop innovative nuclear technologies such as small nuclear reactors and micro nuclear power systems, and build a nuclear research complex in Gyeongju. The plans were deliberated on and finalized at the eighth Atomic Energy Commission meeting held on Nov. 18.

The ministry is going to utilize radiation technologies in order to create new business opportunities in the nuclear power industry. To this end, it is going to concentrate its resources on eight segments, including functional radiopharmaceuticals, high-precision radiotherapy equipment, and advanced electrical, electronic and energy materials.

A total of 800 billion won will be invested until 2025 in this project. Preliminary feasibility studies will be conducted for detailed project and investment plans.

At the same time, the government is going to improve the system-integrated modular advanced reactor (SMART) and work on commercial micro nuclear power systems that can be used in the maritime industry, the space industry, etc. The purposes of the research complex will include R&D for better radioactive waste management, safer nuclear power plant operation, and more effective nuclear facility decommissioning.