Korea Hydro & Nuclear Power "Principled Acceptance of Wolseong Audit Results... Follow-up Measures on Economic Evaluation Guidelines"

Jaehoon Jung, President of Korea Hydro & Nuclear Power. / Photo by Dongju Yoon doso7@

[Asia Economy Reporter Moon Chae-seok] Korea Hydro & Nuclear Power (KHNP) announced on the 20th that it "principally accepts" the Board of Audit and Inspection's (BAI) audit results regarding the early shutdown feasibility of Wolseong Nuclear Power Plant Unit 1.

KHNP released a statement titled "KHNP's Position on the BAI Audit Results of Wolseong Unit 1," saying, "We principally accept the BAI's audit results on Wolseong Unit 1."

At around 2 p.m. that day, the BAI ordered that "it is urgently necessary to establish related guidelines to enhance the reliability and objectivity of economic feasibility evaluation results by setting reasonable evaluation criteria for the continued operation of nuclear power plants in the future."

KHNP stated, "Regarding the 'establishment of guidelines related to economic feasibility evaluations for continued nuclear power plant operation' pointed out by the BAI, we will faithfully implement follow-up measures through consultation and review with relevant ministries such as the Ministry of Trade, Industry and Energy."

On the same day, the BAI announced that it is "difficult to consider" the economic feasibility evaluation process of Wolseong Unit 1 by KHNP directors as an act of breach of trust.

The BAI demanded "strict caution" from KHNP President Jeong Jae-hoon and pointed out that KHNP staff failed to properly supervise actions that undermined the reliability of the economic feasibility evaluation.

The BAI criticized, "(President Jeong) did not instruct to review various alternatives during the economic feasibility evaluation for the continued operation of Wolseong Unit 1, nor did he properly manage and supervise KHNP staff who presented inappropriate opinions during the external institution's economic feasibility evaluation process, thereby undermining the reliability of the evaluation."

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