Uljin: President Yoon Suk Yeol announced his administration’s commitment to revitalizing the nuclear energy industry by constructing new reactors and supporting export bids. Yoon shared these plans during a ceremony marking the completion of the Shin-Hanul 1 and 2 units, as well as the groundbreaking for the Shin-Hanul 3 and 4 units in Uljin, approximately 215 kilometers southeast of Seoul. He emphasized the importance of continued development in nuclear energy both domestically and internationally.
According to Yonhap News Agency, the state-run Korea Hydro and Nuclear Power (KHNP) had applied for construction licenses for the 1,400-megawatt reactors in 2016. However, the process was halted in 2017 under the previous government’s nuclear phase-out policy. Last month, South Korea’s nuclear watchdog granted the license, paving the way for construction. Over the past two and a half years, Yoon has reversed the previous government’s policy to phase out nuclear power, aiming to meet the growing power demand with
carbon-free energy sources and export homegrown nuclear reactors.
Yoon stated that his government will revitalize the nuclear energy ecosystem by constructing new plants, extending the operation of existing reactors, promoting export reactors, and advancing the construction of small modular reactors. He highlighted the potential of the global nuclear power export market, which could reach up to 1,000 trillion won (US$722.9 billion). He also pledged support to help KHNP secure a deal to export nuclear reactors to the Czech Republic.
“We will use the Czech nuclear project as a stepping stone to further expand export opportunities for our nuclear industry,” Yoon remarked, emphasizing efforts to normalize the nuclear industry ecosystem. In July, KHNP was selected as the preferred bidder to build two nuclear power units in the Czech Republic, a deal valued at around 24 trillion won. If finalized, this would mark South Korea’s second nuclear power plant export, following its 2009 project in the United Arab Emira
tes.
South Korea currently operates 26 atomic power plants, supplying about 30 percent of the nation’s electricity. This number is expected to increase to 30 with the completion of four additional reactors, including the Saeul 3 and 4 reactors, which are under construction in Ulsan, 414 kilometers southeast of Seoul.