Yoon: "Nuclear Power Industry on the Brink of Collapse... 5 Years of Foolish Anti-Nuclear Policy" (Comprehensive)

"Decommissioning Nuclear Power Means Bomb Explosion and Ruins... A Situation Where Survival Depends on Overflowing Support"

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol on the 22nd directly criticized the Moon Jae-in administration's nuclear phase-out policy, saying, "If we had not done foolish things for five years and had instead solidly built the nuclear power ecosystem, there probably would be no competitors now." Regarding the current nuclear power industry, he described it as being "on the verge of collapse" and urged related government ministries to provide active support at the government level, such as advance orders. In particular, President Yoon mentioned the resumption of construction for Shin Hanul Units 3 and 4, stating, "We will proceed efficiently by shortening the time as much as possible."

On the same day, President Yoon visited Doosan Enerbility, a leading nuclear power industry company located in Changwon, Gyeongnam, and held a meeting with nuclear power partner companies. He said, "It is very regrettable that the nuclear power industry, which should be further developed, has faced difficulties for several years."

This visit to the nuclear power industry site is President Yoon's second since his election. As a message that the new government will actively support the leap to become a 'nuclear power superpower,' President Yoon said, "Our nuclear power technology and safety are recognized as world-class. The ability to construct on time and on budget is a competitiveness of our nuclear power that no company worldwide can imitate."

Before the meeting, President Yoon also visited the site where equipment such as the reactor vessel forgings for Shin Hanul Units 3 and 4, whose construction is currently halted, and the reactor head for Shin Ho Unit 6 are located. At this site, President Yoon criticized the Moon administration's nuclear phase-out policy, saying, "If those responsible for promoting nuclear phase-out had seen all this and toured the local industrial ecosystem and site, I wonder if they would have made such decisions."

To nuclear power industry officials urgently requesting support on site, he expressed empathy, saying, "The nuclear power industry is on the verge of collapse. This is not a situation that can be resolved by giving a little water and nutrients." He added, "It is a situation where it might survive only if support is given abundantly." President Yoon said, "If the nuclear ecosystem collapses and technicians leave, even if we want to win orders, we cannot." He continued, "I will talk a lot about nuclear power when meeting foreign leaders. The global nuclear power market is worth 1,000 trillion won. If we take emergency measures to save the struggling nuclear industry now, the ripple effects will positively impact our economy."

He reiterated the new government's stance on nuclear power policy. President Yoon promised, "The policy direction has been set. We have decided to scrap the nuclear phase-out and grow the nuclear power industry, but not only the direction is important; the government will actively support to quickly get this on track."

He also gave specific instructions such as advance orders. President Yoon said, "The nuclear power industry is like a battlefield devastated by the bomb called nuclear phase-out during wartime." He urged, "With extraordinary determination, please boldly provide work and advance orders. Otherwise, the nuclear power industry cannot be saved. In wartime, bureaucratic thinking that prioritizes safety must be abandoned," calling for government-level support.

Specific support measures were also disclosed. The Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups announced support plans for nuclear power industry partner companies and small and medium-sized nuclear power companies, respectively. The support plan for nuclear power industry partner companies includes ▲ emergency orders worth 92.5 billion won for nuclear power partner companies this year ▲ new orders totaling over 1 trillion won by 2025 ▲ support for country-specific tailored order strategies and strengthening order continuity ▲ financial support worth 380 billion won and technology investment worth 670 billion won. The support plan for small and medium-sized nuclear power companies includes ▲ emergency funding supply of 100 billion won (50 billion won in policy funds + 50 billion won in special guarantees) ▲ support for business normalization of companies in distress through cooperation programs between the Korea SMEs and Startups Agency and banks ▲ establishment of specialized R&D for small and medium nuclear companies and technological innovation through cooperation with Korea Hydro & Nuclear Power.

Doosan Enerbility also proposed win-win measures for partner companies, such as training technical personnel, dispatching quality experts, expanding loans using the win-win growth fund, and expanding long-term supply agreements. A government official said, "We will actively support nuclear power partner companies to overcome current difficulties, regain competitiveness, and become the main players in building a nuclear power superpower."

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