Choi Tae-won: "We Cannot Reach Net Zero Without Nuclear Power... A Carbon-Free Alliance Is Needed"

KCCI Year-End Press Conference
"Many Countries Feel the Need to Rethink Nuclear Power"
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"There are various methodologies, such as insisting on using only renewable energy to save the Earth, or stating that any energy source is acceptable as long as it does not emit carbon. Since there is absolutely no way to achieve Net Zero (a state where carbon emissions are '0') without including nuclear energy, it is necessary to concretely standardize carbon-free energy (CFE) as a specific standard (norm)."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry (KCCI), emphasized the need to establish carbon-free energy (CFE), which includes nuclear power and hydrogen as energy sources to realize carbon neutrality, as an international norm (global standard). President Yoon Suk-yeol proposed the CFE initiative to the international community at the United Nations (UN) General Assembly last September.

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, is speaking at a press conference held on the 19th at the Korea Chamber of Commerce China Chamber Lounge in Seoul. (Photo by Korea Chamber of Commerce and Industry)

At a year-end press conference held on the 19th at the KCCI Chamber Lounge in Jung-gu, Seoul, Chairman Choi stated, "At the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), there were discussions suggesting that many countries need to reconsider nuclear power as a new topic."

Chairman Choi added, "I hope that carbon solutions that well reflect our environment will be adopted or have a significant impact. The key is whether we can establish as safe nuclear energy as possible, and if that is adopted as a taxonomy (green classification system) by other countries, it will also connect to business opportunities."

Regarding recent signs from several countries moving backward on decarbonization related to climate change, he diagnosed, "It seems similar to looking at stock prices in the securities market. Although the trend is definitely to go up or down, in the short term, the opposite situation of falling or rising can occur."

He continued, "(The climate crisis) is inevitably a global issue," adding, "As time passes and the climate crisis becomes a reality impacting us, the bigger the impact, the louder the voices will be to proceed faster with carbon neutrality."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, is speaking at a press conference held on the 19th at the Korea Chamber of Commerce China Chamber Lounge in Seoul. (Photo by Korea Chamber of Commerce and Industry)

Regarding next year's economic outlook, Chairman Choi said, "No matter how much you try to forecast, it is always of little use," but added, "There will be no major changes in the first half, but I predict the economy will recover in the second half."

He continued, "How quickly China's economy recovers is a big variable, but I don't think it will recover in the short term. I think we will see a recovery only by the end of next year," explaining, "What is somewhat improved is that the automobile and semiconductor sectors are showing signs of recovery."

Regarding the semiconductor industry in particular, he elaborated, "In memory, DRAM is improving, but NAND is still dormant. In non-memory, there are continuous challenges in logic semiconductors, so the situation is not very good."

He added, "Since semiconductors have become a strategic industry for each country, with each country wanting to build everything on their own soil or operate their own business, it is quite difficult for the overall market to flow in a well-balanced supply and demand manner as it did when it was a single market," expressing concern, "There is a possibility that excessive investment could cause significant difficulties."

Regarding his plans for the new year, he said he will attend the 'Consumer Electronics Show (CES) 2024' held next month in Las Vegas, USA. He said, "There are two main agendas. We mainly continue with the theme of the environment, and the world is currently favoring talks about artificial intelligence (AI)."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, is speaking at a press conference held on the 19th at the China Chamber Lounge of the Korea Chamber of Commerce and Industry in Seoul. (Photo by Korea Chamber of Commerce and Industry)

Chairman Choi, whose term as KCCI chairman ends next year, said he is still considering whether to seek reappointment. He said, "I don't think I will say 'I will be reappointed' by myself, and since there is still time left, I will consider others' opinions and reflect on myself," adding, "I have been busy with the World Expo and just returned, so I haven't had any time to think about domestic issues or other thoughts. I will take some rest at the end of the year, organize my thoughts more carefully, and if I decide to continue, I will think about what work I should do and then decide."

Regarding SK Group's personnel move to appoint his 'cousin' Choi Chang-won as Chairman of the SK Supex Council, he said, "Rather than deciding alone, it is a situation where each company nominates in a form of recommendation," adding, "People wonder why it happened to someone related to me by blood, but interpreting it just by blood relation is difficult. Considering his career, story, age, and position, it is a situation where he can fully take the role."

He continued, "I don't think it is appropriate to put too many interpretations into that. You can just watch whether he does well or not in the future," adding, "The front waves of the Yangtze River are always pushed by the back waves. It's just a matter of when that happens, and someday I will also become the front wave."

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