Industrial Vice Minister Visits Gori Nuclear Power Plant... "The Role of Nuclear Power Is More Important Than Ever"

Vice Minister Park Il-jun Inspects Status of Gori Unit 2 Restart
"EU Taxonomy Recognizes the Necessity of Nuclear Power"
Full-Scale Procedures to Resume Construction of Shin Hanul Units 3 and 4 Underway

Ministry of Trade, Industry and Energy Holds First Meeting of 'Nuclear Power Industry TF'
(Seoul=Yonhap News) Reporter Han Sang-gyun = Park Il-jun, Vice Minister of the Ministry of Trade, Industry and Energy, presided over the first meeting of the 'Nuclear Power Industry Competitiveness TF' at the Yeouido Power Infrastructure Center on May 16.
The meeting was attended by related ministries including the Ministry of Economy and Finance, Korea Hydro & Nuclear Power, financial institutions, and nuclear power-related companies. 2022.6.16
xyz@yna.co.kr
(End)

? Yonhap News Agency, Unauthorized reproduction and redistribution prohibited

[Asia Economy Sejong=Reporter Lee Jun-hyung] Park Il-jun, Vice Minister of the Ministry of Trade, Industry and Energy, visited the Kori Nuclear Power Plant located in Busan to once again emphasize the importance of nuclear power. Vice Minister Park also announced that the resumption of construction for Shin Hanul Units 3 and 4 will be promptly pursued.

The Ministry of Trade, Industry and Energy stated that Vice Minister Park visited the Kori Nuclear Power Plant on the 8th to inspect the status of the restart of Kori Unit 2. Previously, Kori Unit 2 was shut down on the 3rd of last month due to equipment failure but was restarted after about a month with approval from the Nuclear Safety and Security Commission. Vice Minister Park said, “This summer’s temperatures are expected to be higher than average, and with the domestic economy recovering, electricity demand is also expected to increase. In a situation where power supply and demand conditions are challenging, the role of nuclear power is more important than ever.”

Vice Minister Park also mentioned the European Union (EU) taxonomy for green classification. Earlier, the European Parliament made a final decision on the 6th to include nuclear power and natural gas in the EU taxonomy. Vice Minister Park stated, “The EU taxonomy recognizes the necessity of nuclear power as a means to achieve carbon neutrality. Especially, nuclear power has been reappraised to respond to the energy security crisis caused by the Russia-Ukraine war.”

Additionally, Vice Minister Park emphasized that major countries are increasing their utilization of nuclear power. According to the Ministry of Trade, Industry and Energy, as of last month, 17 countries worldwide are pursuing the construction of 53 new nuclear reactors. Major countries such as the United Kingdom, France, the United States, and Japan are accelerating new nuclear construction, life extension, and the development of Small Modular Reactors (SMRs). The International Energy Agency (IEA) forecasts that the global nuclear power generation capacity will increase from 415 GW in 2020 to 812 GW in 2050, nearly doubling.

In line with the trend of expanding nuclear power in major countries, there is also an analysis that South Korea’s potential for nuclear power exports has increased. In this regard, President Yoon Suk-yeol recently conducted “nuclear power sales” targeting leaders of major countries at the North Atlantic Treaty Organization (NATO) summit. Furthermore, the government launched the “Nuclear Power Export Strategy Promotion Group,” a control tower for nuclear power exports, starting this month. Vice Minister Park explained, “Considering the EU taxonomy and nuclear policies of countries around the world, our nuclear export opportunities are expected to expand. We will prepare customized export packages linked to the NATO summit and focus on restoring the domestic nuclear power ecosystem.”

The procedure to resume construction of Shin Hanul Units 3 and 4, which was halted during the Moon Jae-in administration, is also being actively pursued. The Ministry of Trade, Industry and Energy plans to activate the environmental impact assessment consultation for Shin Hanul Units 3 and 4 within this month. Vice Minister Park said, “We will shorten the required time through efficient procedural management of the environmental impact assessment and promptly resume construction of Shin Hanul Units 3 and 4.”

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