Yoon Expected to Scrap Nuclear Phase-out Policy
President-elect Yoon Seok-youl is planning to discard the Moon Jae-in administration’s nuclear power policies. According to him, nuclear power plants are essential for carbon neutrality and the ratio of nuclear power generation, which has been less than 29 percent for the past five years, will be adjusted to over 30 percent whereas the current administration’s plan is to reduce it to 7 percent or so by 2050.
The construction of Shin-Hanul Units 3 and 4 is expected to be resumed as early as possible. This project is to build two 1,400 MW plants in Uljin. The plan was fixed in 2008, and then the South Korean government declared its nuclear phase-out policy and halted the project in 2016.
The incoming president’s campaign pledges also include nuclear power plant operation beyond design life, which is opposite to the current government’s stance. South Korea is currently home to 24 nuclear power plants, including 10 designed not to be used in 2030 and later.
The new government will resume overseas nuclear power plant construction and nuclear power plant R&D as well. When it comes to the former, South Korea’s track record has been zero since the UAE Barakha project in 2008. The president-elect is planning to organize a task force for more systematic nuclear power plant exports, cooperate more closely with the United States in the industry, and create 100,000 jobs by exporting at least 10 nuclear power plants by 2030.