South Korea to expand nuclear power generation to 30% of total by 2030

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SEJONG, 05 July. (Yonhap) — South Korea will increase its nuclear power generation to 30 percent of its total power output by 2030 as part of efforts to boost energy security and better meet carbon neutrality goals. , said the Ministry of Industry on Tuesday.

The Yoon Suk-yeol government has pledged to reverse the previous administration’s nuclear phase-out policy, rebuild the industry and support its overseas expansion.

The comparable figure was 27.4% in 2021.

According to the comprehensive energy plan announced on Tuesday, the government will resume construction of Shin-Hanul No. 3 and No. 4 nuclear reactors and continue operation of existing reactors, which is expected to raise the country’s nuclear power ratio to more than 30 %. % by 2030.

The government is also seeking to export 10 nuclear reactors by 2030 and allocate 400 billion won ($308 million) for the development of small modular reactors (SMRs), according to the Ministry of Commerce, Industry and Energy. Energy.

The government will announce a plan on the right mix of renewable energy resources by the end of this year with the aim of achieving carbon neutrality, the ministry added.

Currently, South Korea operates 20 of its 24 nuclear reactors. The previous government had sought to reduce the number of factories in operation to 17 by 2034.

South Korea has pledged to reduce its greenhouse gas emissions by 40% below 2018 levels by 2030 and to achieve carbon neutrality by 2050.

In an effort to enhance energy security, the government has pledged to increase the country’s strategic reserves of key energy resources and deepen international cooperation with the aim of diversifying its import channels for key energy items. industry.

It will strengthen the role of state-owned enterprises in securing overseas resources while actively supporting the private sector in developing their overseas resources.

The government will push for a special law on establishing a “control tower” and an early warning system on national energy security, according to the ministry.

“If the plans are implemented smoothly, our reliance on imported fossil fuels should be reduced to around 60% by 2030, from 81.8% last year,” the ministry said.

“Some 100,000 new jobs are likely to be created in the energy sector by 2030, as the number of innovative venture capital firms will double to 5,000 by then.”


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