Additional 150 Billion KRW Supplied to Small and Medium Nuclear Power Companies... "Full Effort to Normalize the Ecosystem"

Ministry of Trade, Industry and Energy, Korea Development Bank, and Korea Hydro & Nuclear Power Provide 2nd Special Financial Support

The Ministry of Trade, Industry and Energy announced on the 9th that starting from the 10th, it will additionally implement a 'Special Financial Program' worth 150 billion KRW to help small and medium-sized nuclear power companies overcome the hardships caused by a sharp decline in sales during the nuclear phase-out period.

This program follows the 200 billion KRW funding support agreement signed on March 29 between the Ministry, KDB Industrial Bank, Korea Hydro & Nuclear Power, and Doosan Enerbility, under which 50 billion KRW was first released on March 31. This time, the remaining 150 billion KRW will be additionally implemented. The funds feature practical financial support improvements compared to existing financial products, including ▲low interest rates (3-5%) ▲unsecured loans ▲expanded loan limits (up to 120% of the evaluation amount).

According to the Ministry, the Special Financial Program received strong responses from companies, with about two-thirds of the loan funds exhausted within approximately three months after the first release. With the significant expansion of resources through this second release, it is expected to contribute to alleviating the financial difficulties of more nuclear power companies and revitalize the overall nuclear power ecosystem.

Meanwhile, the government is accelerating support for securing work orders to fully normalize the nuclear power ecosystem within this year. In the first half of this year, contracts for main equipment of Shinhanul Units 3 and 4 (worth 2.9 trillion KRW) were signed, orders for auxiliary equipment work (worth 1.9 trillion KRW) were initiated, and the implementation plan for the Shinhanul Units 3 and 4 power development project was approved.

An official from the Ministry stated, "The government plans to continue discovering and implementing highly effective and diversified support measures that reflect the voices from the field, aiming not only to restore the nuclear power ecosystem but also to achieve a future-oriented leap forward."

(Photo) [Image source=Yonhap News]

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