Korea Hydro & Nuclear Power President: "Aiming to Become a Comprehensive Energy Company... Investment in Renewable Energy is Essential"

Jaehoon Jeong, President: "No Energy Company Can Exist Without Investment in Renewable Energy"

Jung Jae-hoon, President of Korea Hydro & Nuclear Power, is attending the National Assembly inspection on Korea Electric Power Corporation and others held by the National Assembly Industry, Trade, Energy, Small and Medium Venture Business Committee on the 12th. Photo by Yoon Dong-joo doso7@

[Sejong=Asia Economy Reporter Kwon Haeyoung] Jeong Jae-hoon, President of Korea Hydro & Nuclear Power, emphasized on the 12th that "no energy company can exist without investment in renewable energy."

At the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee's audit held that day, President Jeong responded to the criticism by Yoon Young-seok, a member of the People Power Party, who pointed out the rapid increase in investment in renewable energy, stating, "We are aiming to be a comprehensive energy company."

Assemblyman Yoon pointed out that investment in KHNP's nuclear power plants will decrease from 1.5 trillion won this year to 409.2 billion won in 2025, which is only 27% of the current level. On the other hand, investment in renewable energy such as solar and wind power is expected to increase to 707.8 billion won by 2025, criticizing KHNP for pursuing a nuclear power phase-out policy.

Regarding this, President Jeong explained, "We establish investment plans within the framework of government policy," adding, "Since the government has prohibited the continued operation of nuclear power plants, we can only perform maintenance, and it is difficult to maintain the investment pattern that has continued until now with this alone."

He said, "In addition to renewables and existing nuclear power, we are conducting various reviews on innovative Small Modular Reactors (SMR)," and added, "On the 2nd of last month, we submitted a preliminary feasibility study application for research and development (R&D) to the government, and we expect the government to make a positive judgment." He continued, "So far, we have only included about 30 billion won as investment costs for the SMR conceptual design, and once the preliminary feasibility study results come out, the SMR-related investment amount will be automatically confirmed and included in the mid- to long-term financial management plan," adding, "I believe there is an opportunity for a new investment momentum to arise."

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