Instead of an Inauguration Ceremony, Industry Minister Visit to Nuclear Plant: "Normalizing the Nuclear Industry Ecosystem is the Top Priority"

Official Start of Duties by the Minister of Industry Visiting Saeul Nuclear Power Plant and Busan New Port

Newly appointed Minister of Trade, Industry and Energy Bang Moon-kyu officially began his duties on the 20th by skipping the inauguration ceremony and visiting the Saeul Nuclear Power Plant.

An official from the Ministry of Trade, Industry and Energy explained, "Minister Bang’s first move to visit a nuclear power plant and meet related businesspeople signifies his intention to prioritize restoring nuclear power policies and normalizing the nuclear industry ecosystem as the ministry’s top agenda."

The Saeul Nuclear Headquarters visited by Minister Bang is where the APR1400, a model nuclear reactor exported to Barakah in the United Arab Emirates (UAE), is operated domestically for the first time (Saeul Units 1 and 2). It is also the site where the final construction of Saeul Units 3 and 4, which had been temporarily halted due to public debate under the previous administration, is actively underway. Minister Bang encouraged the on-site staff, urging them to "carry out nuclear power plant operations and construction without setbacks while strictly adhering to the principle of safety first."

Following this, Minister Bang visited Changwon, where nuclear power equipment companies are concentrated, and held a meeting with representatives of companies supplying main and auxiliary nuclear power equipment and exporters. At this meeting, Minister Bang said, "While the importance of nuclear power as a zero-carbon base load power source is increasing, we are well aware that our nuclear industry faced difficulties such as nearly a 30% drop in sales and a 17% loss of workforce due to the previous administration’s nuclear phase-out policy," and promised "policy efforts to restore the nuclear ecosystem at an early stage."

Minister Bang specifically stated that to expedite the disbursement of funds needed by companies, measures will be prepared to provide advance payments early, and that export guarantee support systems and special financial funds will be established to respond to the expansion of the global nuclear power market. He also mentioned that expansion of investment tax credits to promote investment will be reviewed in cooperation with related ministries, and that support for innovative research and development (R&D) and professional workforce training will continue to secure mid- to long-term competitiveness.

On the same day, Minister Bang also visited Busan New Port, which serves as a forward base for diversifying Korea’s export markets. Busan Port is the largest import-export port in Korea, handling 63% of the country’s total container cargo volume and connected to 500 ports in 150 countries.

Minister Bang said, "Although the trade balance has shown a surplus for three consecutive months since June, exports have continued to face difficulties since October last year," adding, "Despite severe external conditions such as global economic contraction, US-China trade friction, and supply chain restructuring, we must achieve an export rebound to revive our economy."

On the 20th, Visit Kyoo Moon, Minister of Trade, Industry and Energy (center), visited the Saeul Nuclear Power Headquarters of Korea Hydro & Nuclear Power located in Ulsan as his first on-site visit after taking office to inspect the site.

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