Yoon: "Nuclear Phase-Out Likely Led to Economic Crisis"...Criticizes Moon for Two Consecutive Days

President Yoon: "2022, the Year of Nuclear Industry's Rebirth"
Support for Nuclear Industry to Expand to 2 Trillion Won Next Year
400 Billion Won Invested in SMR Development
Following Criticism of Moon Jae-in Care as 'Populism,' Calls Nuclear Phase-Out 'Excessive and Reckless'

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol criticized on the 14th, saying, "The indiscriminate nuclear phase-out policy may have driven our economy into an uncontrollable situation amid the current energy crisis era."

In a congratulatory message sent to the completion ceremony of Shin Hanul Unit 1 in Uljin, Gyeongbuk, on the morning of the same day, President Yoon stated, "This year will be remembered as the first year of the nuclear power industry's leap forward," and added, "We will now accelerate the restoration of the nuclear power ecosystem even more."

He also emphasized, "Our nuclear power industry, which had shrunk due to the nuclear phase-out, will regain vitality and leap forward again," and "The government will also support our excellent nuclear technology and experience to expand globally."

President Yoon evaluated the recent achievements related to Shin Hanul Unit 1, saying that through over 50 years of challenges and accomplishments in what was once a nuclear power desert, Korea has acquired world-class technology and competitiveness. He said, "Shin Hanul Unit 1 is the first nuclear power plant with the APR1400 model independently developed by Korea, completely domesticating core technologies of major equipment such as instrumentation and control systems," and added, "It is the world's best nuclear power plant that cannot be praised enough."

Regarding investment in the nuclear power industry, President Yoon said, "We will expand the emergency support amount for work orders, finance, and research and development (R&D) for the nuclear industry from about 1 trillion won this year to over 2 trillion won next year," and "We will also invest a total of 400 billion won in the development of Small Modular Reactors (SMRs)."

Concerning the utilization of nuclear power, he explained, "The continued operation of nuclear power plants whose operating licenses have expired will proceed swiftly on the premise of ensuring safety, and high-level radioactive waste generated from nuclear power plants will be responsibly managed through the enactment of special laws and securing core technologies," adding, "In particular, safety will be the top priority throughout all processes of constructing and operating nuclear power plants."

President Yoon was originally scheduled to attend the commemorative event on the day but did not participate considering the safety of attendees amid the cold wave. The congratulatory message was read by Minister of Trade, Industry and Energy Lee Chang-yang.

Regarding President Yoon's criticism of Moon Jae-in Care and the nuclear phase-out policy for two consecutive days, there is an analysis that this is a strategy to secure justification and momentum for implementing national tasks ahead of the National Assembly's deadline on the 15th for passing next year's budget bill.

However, a presidential office official responded, "Issues such as National Health Insurance are tasks that cannot be postponed, and regarding nuclear power policy, nuclear power itself is a new export strategy beyond the phase-out," adding, "This was naturally expressed while explaining the importance of these current issues to the public and was not intentional."

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