'Strengthening Nuclear Power Initiatives' in the Ministry of Industry... Minister Visits Nuclear Companies, Vice Minister Urges High-Level Radioactive Waste Special Act

Minister Andeokgeun Visits Core Nuclear Power Technology Companies
Promises Support for 'Complete Restoration of Nuclear Power Ecosystem and Leading SMR Nation Leap'
Vice Minister Choi Namho Urges Enactment of Special Law at National Assembly Nationwide Rally

Following the Nuclear Power Livelihood Forum hosted by President Yoon Suk-yeol, the Ministry of Trade, Industry and Energy, the main government body in charge of nuclear power, has officially embarked on a 'nuclear power revival' campaign. On the 23rd, Minister Ahn Deok-geun visited key nuclear technology companies to listen to their voices. Choi Nam-ho, the 2nd Vice Minister of the Ministry, attended a nationwide rally urging the enactment of the High-Level Radioactive Waste Special Act, repeatedly emphasizing the necessity of the legislation.

On the same day, Minister Ahn visited Woojin, a specialized nuclear power instrumentation company located in Hwaseong, Gyeonggi Province. This visit was to convey the policy will for advancing to a leading nuclear power nation, as declared at the 'Revitalizing the Nuclear Power Industry: Vibrant Changwon and Gyeongnam' Livelihood Forum held the previous day in Changwon, and to actively listen to the voices of companies on site.

Anduk Geun, Minister of Industry and Energy. (File photo)

Woojin is a representative mid-sized nuclear power company leading the domestic instrumentation industry. Since developing temperature sensors for steel in the 1980s, the company diversified its business areas and officially entered the nuclear power instrumentation business in the 1990s. Notably, it succeeded in developing in-core nuclear instrumentation as the third in the world after the United States and France, supplying instrumentation to 18 domestic nuclear power plants starting with Hanul Units 3 and 4 in 2002, creating an import substitution effect exceeding 100 billion KRW. In August last year, Woojin supplied instrumentation to Unit 1 of the Barakah Nuclear Power Plant in the United Arab Emirates (UAE), gaining recognition for its excellent technology overseas. Furthermore, since last year, the company has participated in the innovative Small Modular Reactor (SMR) technology development project, developing next-generation instrumentation technology specialized for SMRs.

During the visit, Minister Ahn inspected the production site of nuclear power instrumentation and the SMR prototype under development, encouraging on-site employees and promising, "The government will consistently pursue policy support so that our nuclear power companies can enhance their status in the global nuclear power market based on excellent technology."

The government has decided to make every effort this year not only to restore the nuclear power ecosystem but also to achieve the 'qualitative advancement of the nuclear power industry.' First, it will supply 3.3 trillion KRW worth of work orders and 1 trillion KRW in liquidity, the largest scale since the government’s inauguration, and introduce tax credits for investments in nuclear power manufacturing technology to promote private investment. Additionally, the government will invest 4 trillion KRW in public-private joint research and development (R&D) over the next five years in next-generation nuclear power, exports, and related fields. The development of a Korean-style independent SMR model will be accelerated, and support will be provided for domestic companies to secure innovative manufacturing technologies and for regional companies to build manufacturing capabilities. A commercialization strategy for SMRs involving the private sector will also be established within this year.

Vice Minister Choi attended a nationwide rally held at the National Assembly Members' Office Building to urge the enactment of the High-Level Radioactive Waste Special Act. About 400 people, including lawmakers who proposed the special act and organizations advocating for its enactment, conveyed their support to the National Assembly through this rally to ensure the legislation is finalized during the 21st National Assembly.

The High-Level Radioactive Waste Special Act is a law that establishes policies for managing high-level radioactive waste, designates sites for permanent disposal facilities, and stipulates procedures and responsibilities for safely managing high-level radioactive waste. Without this law, disposal facilities cannot be constructed, and spent nuclear fuel must be stored in storage facilities within nuclear power plant sites. However, storage facilities within nuclear power plant sites will reach capacity starting with Hanbit Nuclear Power Plant in 2030, followed by Hanul in 2031, Kori in 2032, Shin-Wolsong in 2042, and Saeul in 2066.

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