Nuclear Power Exports Halved in 5 Years... Will Yoon Step Up as the 'Savior'? [Nuclear Ecosystem Restoration Strategy②]

Number of Nuclear Power Plant Export Deals Down from 62 in 2015 to 30 in 2020
Export Contract Amount Also Plummeted from 186 Billion Won to 41.6 Billion Won
Industry: "Anti-Nuclear Countries Withdrew Contract Intent Citing Distrust in Products"

The Barakah Nuclear Power Plant in the United Arab Emirates (UAE), the first nuclear power plant exported by our country, began commercial operation in April last year. [Image source=Yonhap News]

[Asia Economy Sejong=Reporter Lee Junhyung] Nuclear power plant exports have been hit hard by the anti-nuclear power policy, with the number of contracts halving over the past five years. As President-elect Yoon Seok-yeol has emphasized revitalizing nuclear power exports, attention is focused on the policies the new government will introduce.

According to the "2020 Nuclear Industry Status Survey" released by the Korea Nuclear Industry Association on the 19th, the number of domestic nuclear power export contracts in 2020 was 30, more than half less than the 62 contracts in 2015, five years earlier. During the same period, the contract amount for nuclear power exports shrank from approximately 186 billion KRW to about 41.6 billion KRW. Although the 2020 nuclear power export amount increased by over 10 billion KRW compared to the previous year (about 26.5 billion KRW), it is difficult to say it has entered a recovery phase compared to before the government’s anti-nuclear power policy became full-fledged.

The contraction of nuclear power exports is closely related to the anti-nuclear power policy. Initially, the domestic nuclear power industry turned its eyes overseas as Korea Hydro & Nuclear Power's order volume decreased due to the anti-nuclear power policy. However, overseas nuclear power buyers did not prefer products from 'anti-nuclear power countries.' The CEO of company A, a manufacturer of dehumidifiers for nuclear power plants, said, "At the beginning of the anti-nuclear power policy, a British nuclear power public enterprise first inquired about a quotation," adding, "But in the end, the contract was canceled because they said they could not trust products made in an anti-nuclear power country."

The nuclear power industry is pinning its hopes on the next government. Revitalizing nuclear power exports is a key nuclear power pledge of President-elect Yoon, who emphasized the 'abolition of the anti-nuclear power policy.' Previously, President-elect Yoon pledged to export 10 nuclear reactors and create 100,000 related jobs by 2030. There is also a pledge to establish a Nuclear Export Support Group to systematize export support. This is based on the judgment that active government-level 'nuclear power sales' are necessary to enhance export competitiveness.

The Ministry of Trade, Industry and Energy, the competent ministry, is also accelerating its response preparations. In a recent transition committee briefing, the ministry reported plans to establish and operate a 'dedicated nuclear export governance' within the first half of this year. This organization will mobilize government capabilities in technology, diplomacy, and defense to support nuclear power exports. Additionally, the ministry reported plans to strengthen Korea-US nuclear cooperation to create synergy by combining the US's diplomatic power and core technology with Korea's nuclear power construction capabilities.

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