[2020 National Audit] Jeong Jae-hoon "Never Mentioned Wolseong Unit 1 Economic Feasibility to the Blue House"

by Moon Chaeseok

Published 12 Oct.2020 12:06(KST)

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

[Asia Economy Reporter Moon Chaeseok] "In 2018, there was absolutely no mention of the economic feasibility of Wolseong Unit 1 to the Blue House."

On the 12th, Jeong Jae-hoon, CEO of Korea Hydro & Nuclear Power, said this during the National Assembly Science, Technology, Information and Broadcasting and Communications Committee's audit.

Hwang Bo-seung-hee, a member of the People Power Party, argued that restructuring is necessary to restore KHNP's finances.

She then requested an explanation regarding KHNP's decision made at the board meeting in June 2018 to shut down Wolseong Unit 1 early.

CEO Jeong responded, "I have a lot to say about that issue, but since the Board of Audit and Inspection's audit is ongoing, I will refrain from answering," adding, "Various factors such as government-wide policies and regulations, and local community acceptance were taken into account."

He continued, "I believe coexistence between nuclear power and new and renewable energy is absolutely necessary."

Rep. Hwang said, "KHNP decided that Wolseong Unit 1 was not economically feasible because power generation decreased and the sales price dropped, but logically, if the capacity factor decreases, shouldn't the cost increase?" and asked, "Is the early shutdown a political decision or not? Please answer yes or no."

To this, CEO Jeong answered, "No."

When Rep. Hwang asked how many times he had visited the Blue House in 2018, he replied, "Once for a greeting upon appointment, and never again."

When asked what kind of report he made during the visit, he said, "I met with the Blue House's Industry Secretary and only discussed the overall policy direction."