KHNP Establishes Energy Innovation Fund to Promote Nuclear Power Plant Decommissioning Industry

Jaehoon Jung, President of Korea Hydro & Nuclear Power. (Photo by Korea Hydro & Nuclear Power)

[Asia Economy Reporter Moon Chaeseok] Korea Hydro & Nuclear Power announced on the 28th that it has established the 'Energy Innovation Growth Fund No. 1' to enhance the growth capabilities of the nuclear power industry and promote exports and entry into the nuclear power decommissioning industry.

The fund was created based on Korea Hydro & Nuclear Power's investment of 18 billion KRW, with POSCO Technology Investment participating as the fund manager.

Additionally, nuclear power-related organizations such as IBK Industrial Bank, Woori Bank, POSTECH, Gyeongnam Technopark, KEPCO KDN, KEPCO KPS, Korea Electric Power Technology, and KEPCO Nuclear Fuel also joined as investors.

The fund was raised to a total size of 30.5 billion KRW.

More than 50% of the committed investment amount will be invested in nuclear power-related companies and companies wishing to enter the nuclear power decommissioning sector.

The funds are expected to be used to help improve the business structure of small and medium-sized nuclear power companies, support the export of nuclear power equipment, and promote entry into the nuclear power decommissioning industry, thereby securing competitiveness throughout the entire nuclear power industry cycle.

Jung Jae-hoon, CEO of Korea Hydro & Nuclear Power, said, "Our company and nuclear power-related companies possess outstanding construction, operation, and export capabilities, and will soon also have decommissioning capabilities," adding, "We hope this investment will greatly help invigorate the nuclear power industry."

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