Interim Storage Facilities to Be Prepared by 2043
The Ministry of Trade, Industry and Energy announced on July 20 that the South Korean government would invest 1.4 trillion won in R&D related to the transport, storage and disposal of high-level radioactive waste, that is, spent nuclear fuel.
According to the ministry, interim storage facilities will be prepared by 2043 after the initiation of disposal site selection scheduled for next year. Its target year for permanent disposal facility preparation is 2060. The newly announced investment is to ensure a safe disposal by technological R&D as a part of the plan.
“South Korea’s technological level in terms of high-level radioactive waste management as compared with those of the United States, Sweden and Finland is 84 percent in transport, 80 percent in storage, 62 percent in site and 57 percent in disposal,” the ministry explained, adding, “The investment will include 500 billion won for underground research facility construction.”
According to the ministry, the R&D plan will be refined in cooperation with the OECD, the IAEA and leaders in the field such as Finland and France. “We are planning to accelerate the preparation of a special law proposal regarding competent agency establishment, incentives for waste disposal regions, etc.,” it explained.