South Korea moves to increase nuclear power generation

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According to the Ministry of Commerce, Industry and Energy, the administration has set a goal to increase the share of nuclear power generation to 30 percent or more by 2030.

The Yoon Suk-yeol administration’s energy policy direction invalidates that of Moon Jae-in’s previous administration in October 2017, which backed a decade-long plan to phase out nuclear energy, it said. the ministry in a statement.

He said the target of 30% or more of nuclear energy’s share signifies the formalization of the new administration’s policy, which aims to achieve both stable energy security and carbon neutrality.

The energy security policy indicates that the government will take countermeasures against the current global energy supply problem following the high demand growth during the normalization process of the Covid-19 pandemic.

The protracted war between Ukraine and Russia is another key factor, which has sparked fierce competition between major economies to secure energy resources.

The ministry predicts that “the fossil fuel dependency rate will increase from 81.8% in 2021 to 60% in 2030 if the administration successfully implements the harmonized operation of nuclear power, renewable energy and hydrogen”.

As for the employment sector, the number of innovative energy-related startups is expected to reach 5,000 by 2030, which could create around 100,000 jobs, the ministry said.


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