Busan Emerges as a 'Nuclear Power Plant Decommissioning Cluster'

Busan City Designated as 'Nuclear Energy Industry Convergence Complex' Along with Ulsan
Total Area of 20.04㎢ Designated Centered on Nuclear Decommissioning Research Institute Site
23,399 Jobs and 3.08 Trillion KRW Production Expected by 2030

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City has been officially designated by the Ministry of Trade, Industry and Energy on the 19th for the ‘Nuclear Power Plant Decommissioning (Nuclear) Energy Industry Convergence Complex’ project jointly promoted with Ulsan City as part of the Busan-type New Deal project.

The ‘Energy Industry Convergence Complex’ refers to a cluster where companies, institutions, and research institutes specializing in regional energy industries and related energy industries are concentrated, bringing convergence effects such as cost reduction and technological innovation.

Through this designation, Busan City expects to focus on fostering the nuclear power plant decommissioning industry centered on existing industrial complexes, research institutes, and industrial entities within the region.

The Nuclear Power Plant Decommissioning (Nuclear) Energy Industry Convergence Complex covers a total area of 20.04㎢ and is divided into a core zone and a linkage zone.

▲ The ‘Core Zone’ consists of spaces that intensively foster the Dongnam Radiation Medical Science Complex in Gijang-gun, Banryong Busan New Materials General Industrial Complex, and the Energy Convergence Industrial Complex in Ulju-gun.

▲ The ‘Linkage Zone’ is developed as a future energy industry area centered on the Noksan National Industrial Complex, a cluster of mechanical nuclear power plant decommissioning and energy materials, parts, and equipment-related industries.

Busan City plans to prepare a foundation to lead the world’s best nuclear power plant decommissioning industry through this complex designation and to respond to the domestic nuclear power plant decommissioning market.

It will not only lead the domestic nuclear power plant decommissioning market, expected to reach 10 trillion KRW by 2030, but also gain competitiveness to enter the global market, estimated at 123 trillion KRW.

Busan City aims to create 10,000 new jobs and attract 500 companies by 2030. Additionally, it expects ripple effects of 23,399 jobs and induced production of 3.0797 trillion KRW.

Busan City is focusing on projects such as the nuclear power plant decommissioning professional workforce training project jointly conducted by the US Argonne National Laboratory and Pusan National University, the nuclear power plant decommissioning company technology development support project underway at the Southeast Branch of the Korea Institute of Industrial Technology, and the laser technology development project at the Busan Center of the Korea Institute of Machinery and Materials. Based on these projects, it plans to expand participation from local universities and companies in the future.

The establishment of the ‘Nuclear Power Plant Decommissioning Research Institute,’ a 250 billion KRW-scale project leading nuclear power plant decommissioning technology independence through technology demonstration, advancement, and industry support, is also progressing smoothly with a target completion in 2024.

Byun Sung-wan, Acting Mayor of Busan, said, “We will create an industrial ecosystem so that local companies can lead the nuclear power plant decommissioning industry and build Busan into one of the world’s top five nuclear power plant decommissioning clusters.”

This content was produced with the assistance of AI translation services.