According to the latest plan of the Ministry of Trade, Industry and Energy (MOTIE), the share of nuclear energy in electricity production in South Korea will be 34.6% by 2036, compared with 27.4% in 2021.
In July, the government outlined a new energy policy aimed at maintaining the share of nuclear energy in the country’s energy balance at at least 30% by 2030. It also called for the resumption of the construction of the 3rd and 4th power units at the Sin Hanul NPP. The new policy is also aimed at strengthening the export of new energy industries and “using them as engines of growth.” It aims to export 10 nuclear power plants by 2030, as well as develop a project for a Korean small modular reactor.
MOTIE reported that the 10th Basic Plan on Electricity Supply and Demand, the first draft of which was published in August last year, was finally approved by the Energy Policy Council on January 11 after passing various procedures, such as a strategic environmental impact assessment, consultations with relevant ministries, public hearings and a report to the Standing Committee of the National meetings.
The proposals made in the policy published in July were “embodied in the 10th electric plan,” the ministry said.
“As a result, in the proportion of electricity production by energy sources in 2036, it is expected that nuclear power and renewable energy sources will increase to more than 30%, and coal-fired electricity production will decrease to less than 15%.”
According to the latest plan, the share of electricity generated by nuclear energy will be increased to 34.6%. This increase reflects the launch of six new reactors in the period up to 2033 (units 1-4 of the Shin Hanul NPP and units 5 and 6 of the Shin Kori NPP), as well as the continued operation of 12 existing reactors. Nuclear generating capacity is expected to increase from 24.7 GW in 2022 to 28.9 GW in 2030 and to 31.7 GW in 2036.
The share of electricity generated from renewable sources will increase from 7.5% in 2021 to 30.6% in 2036. Meanwhile, coal-fired electricity production will decrease to 14.4% compared to 34.3% in 2021 due to the closure of 28 of the country’s 58 coal-fired power plants.
“The Tenth Plan for the development of the electric power industry (2022-2036) puts stable energy supply and demand for electricity as a top priority, forms the structure of energy supply based on comprehensive consideration of economic feasibility, ecology and safety, and also contributes to strengthening the basis for energy supply and demand, for example, strengthening the power system and reorganizing the electricity market,” MOTIE said.
President Yun Suk-yel, who took office in May 2020, vowed to reverse former President Moon Jae-in’s policy of phasing out nuclear power, which was introduced after he took office in 2017 and after the Fukushima-1 nuclear power plant accident in Japan in 2011.
Source: Atomic Energy 2.0
