Moon Seung-wook "SMR Development Feasibility Study Underway... No Resumption of Shin Hanul Units 3 and 4 Construction"

"Collaborating with the Ministry of Science and ICT to Apply for Next-Generation SMR R&D Preliminary Feasibility Study This Fall"

[Sejong=Asia Economy Reporter Kwon Haeyoung] Moon Seung-wook, Minister of Trade, Industry and Energy, announced plans to develop next-generation Small Modular Reactor (SMR) technology. Regarding the halted construction of Shin Hanul Units 3 and 4, he indicated that construction will not be resumed.

At a press briefing held at the Government Complex Sejong on the 8th, Minister Moon said, "In collaboration with the Ministry of Science and ICT, we plan to apply for a preliminary feasibility study on next-generation SMR research and development (R&D) targeting this fall," adding, "The Ministry of Science and ICT has been leading technology development and long-term R&D efforts so far, and since demonstration and commercialization must be considered, the Ministry of Trade, Industry and Energy will also have room for collaboration."

The Ministry of Science and ICT plans to apply for a preliminary feasibility study in September for the development project of the Korean-style SMR called 'i-SMR.' While the Ministry of Trade, Industry and Energy is the main department responsible for nuclear power plants, the SMR R&D responsibility is divided under the Ministry of Science and ICT. As the main department for nuclear power plants, the Ministry of Trade, Industry and Energy plans to jointly participate with the Ministry of Science and ICT from the SMR technology development stage, keeping future exports in mind.

However, Minister Moon drew a line on additional domestic new nuclear power plant construction such as Shin Hanul Units 3 and 4.

Minister Moon explained, "There are currently 24 nuclear power plants operating domestically, and with Shin Hanul Units 1 and 2 nearly completed and soon to be operational, the total will increase to 26," adding, "Even globally, considering our land and population proportion, this number of nuclear power plants is by no means small." He continued, "The government has the task of maintaining our nuclear technology, and another task is safety," adding, "We must have solutions regarding whether the public can feel assured, so that we can set a direction for the already overcrowded nuclear power plants."

Regarding the agreement between the South Korean and U.S. leaders to cooperate on nuclear power plant exports to third countries, he said, "This is part of the government's active solution on how to maintain our nuclear power industry," adding, "Nuclear power has a certain role in carbon neutrality, and the government will work hard to secure opportunities to sustain the nuclear power business through overseas nuclear power exports."

On the global shortage of automotive semiconductors, he forecasted, "Considering the global supply-demand imbalance, it does not seem easy to resolve in a short time." Minister Moon proposed, "In the long term, we plan to increase the supply of automotive semiconductors domestically," adding, "We can support additional investment or expansion in places where foreign investment has already entered, and also support foundry investments suitable for the domestic market."

Regarding the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), he said, "We looked into it with the expectation that the Biden administration might show a proactive stance, but so far no visible changes have been seen," adding, "We will continue to consider the possibilities and review it in a direction favorable to us."

Meanwhile, Minister Moon presented strengthening supply chains in core strategic industries such as semiconductors, batteries, and bio as a key task, and announced that following last month's 'K-Semiconductor Strategy,' the 'K-Battery Strategy' will be announced in early to mid-next month.

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