Considering Setting up a New Bureau at Trade Ministry
The Presidential Transition Committee is considering organizing a new bureau in the Ministry of Trade, Industry and Energy to be in charge of overseas nuclear power plant construction. The committee is planning to come up with a detailed plan through discussions with the Ministry of the Interior and Safety.
The committee’s planned policies include a complete separation from the Moon Jae-in administration’s nuclear phase-out policy. The committee is planning to appoint a new assistant minister to that end so that exports related to nuclear power generation can be increased. The incoming government is planning to export at least 10 nuclear power plants, and a task force is in the making to that end.
South Korea’s overseas nuclear power plant construction projects have decreased a lot under the current government. Specifically, according to the Korea Atomic Industrial Forum, the number of new contracts was 62 in 2015 and stood at 30 in 2020. In that period, the total annual contract amount dropped from 186 billion won to 41.6 billion won.