Yoon Administration's Key Project 'Nuclear Power Plant Export' Also Supported Indirectly in the National Assembly

Rep. Han Mu-kyung of the People Power Party to Host 'Policy Debate on Strategies and Tasks for Revitalizing Nuclear Power Plant Exports' on the 31st
Seong Il-jong, Chairman of the Policy Committee, "We Will Maintain Continuous Interest and Provide Detailed Support for Nuclear Power Plant Exports"

[Asia Economy Reporter Geum Bo-ryeong] The Yoon Suk-yeol administration has taken steps to provide support, including pushing for the enactment of a special law in the National Assembly, to promote one of its key projects, 'nuclear power plant exports.'

On the morning of the 31st, Han Mu-gyeong, a member of the People Power Party, held a 'Policy Forum on Strategies and Tasks for Revitalizing Nuclear Power Plant Exports' at the National Assembly. As the government secured a large-scale overseas nuclear power plant construction project for the first time in 13 years, the forum aimed to help accelerate momentum by opening the door to nuclear power plant exports. The Yoon Suk-yeol administration has set a goal of exporting 10 nuclear power plants by 2030.

The policy forum was chaired by Ju Han-gyu, a professor in the Department of Nuclear Engineering at Seoul National University, with Professor Moon Ju-hyun of Dankook University delivering the keynote presentation. Participants in the discussion included Noh Baek-sik, former head of the Overseas Business Division at Korea Hydro & Nuclear Power (KHNP), Dr. Lee Jong-ho from the Seoul National University Institute for Future Nuclear Technology Policy, Lee Tae-ho, head of the Smart Development Division at the Korea Atomic Energy Research Institute, Park Young-hyo, Nuclear Non-Proliferation Diplomacy Planning Officer at the Ministry of Foreign Affairs, and Park Dong-il, Director of the Nuclear Industry Policy Bureau at the Ministry of Trade, Industry and Energy.

In his keynote presentation, Professor Moon argued that it is desirable to establish a legal foundation to support the industrialization of nuclear power plant exports. He emphasized that the special law should include the formation and operation of a 'control tower' capable of leading cross-ministerial cooperation, the establishment and operation of a dedicated nuclear power export company, support for restructuring the domestic nuclear power business system, financial guarantees for nuclear power export projects, exemption or simplification of preliminary feasibility studies for nuclear export projects, and support for various international cooperation activities related to nuclear power exports.

Professor Moon explained, "Now is the right time to promote the industrialization of nuclear power plant exports," adding, "The value and role of nuclear power as a key response to climate change are being re-evaluated, the dominance of Russia and China in the overseas nuclear power market has weakened, and the declaration of the Korea-US nuclear alliance has heightened the atmosphere for both countries to enter the global nuclear power market."

Noh Baek-sik, former head of KHNP’s Overseas Business Division, analyzed that a 'future-oriented strategic cooperation system' is necessary to revitalize nuclear power plant exports. Noh said, "The global market is more competitive and influenced by various factors than expected, and it is complex, making it difficult to achieve results independently. We need to adopt a strategy of strategically dividing roles with major global suppliers, including the United States, sometimes focusing on specific projects and other times on large markets. If necessary, strategic mergers with leading overseas companies should also be actively considered."

The People Power Party promised support for nuclear power plant exports. In his opening remarks, Seong Il-jong, chairman of the People Power Party Policy Committee, said, "Nuclear power plant exports, which are core to nuclear competitiveness, not only recognize South Korea’s industrial and technological capabilities but also represent a future growth industry with enormous ripple effects on related industries. It is time to develop strategies to revitalize nuclear power plant exports and secure overseas markets for domestic nuclear power plants." He added, "The People Power Party will also maintain continuous interest and provide detailed support for nuclear power plant exports to restore the nuclear ecosystem and strengthen nuclear competitiveness."

Based on the opinions raised at the policy forum, Representative Han plans to propose a special law. Han said, "After listening to voices from various sectors and conducting multifaceted legal reviews of the contents discussed today, I plan to create a special law that can help revitalize nuclear power plant exports."

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