Government Invests 4.8 Billion KRW in Nuclear Power Export Project... 3.3 Billion KRW from National Budget
Public-Private Collaboration Mobilized... Plans to Provide Information on Competing Export Countries
President Yoon Suk-yeol visited the construction suspension site of Shin Hanul Units 3 and 4, located in Uljin, Gyeongbuk, in December last year during his presidential campaign, and announced his nuclear power policy. [Image source=Yonhap News]
[Asia Economy Sejong=Reporter Lee Jun-hyung] The Yoon Seok-yeol administration will invest approximately 4.8 billion KRW this year to strengthen the competitiveness of nuclear power plant exports.
The Ministry of Trade, Industry and Energy announced on the 15th that it will implement the "2022 Nuclear Power Export Infrastructure Establishment Project" worth 4.79 billion KRW. Since 2011, the ministry has been promoting nuclear power export projects to enhance the competitiveness and order potential of domestic nuclear power plants. Of the approximately 4.8 billion KRW project budget this year, about 3.32 billion KRW is from the national treasury.
The ministry views nuclear power exports as a driving force to restore the domestic nuclear power ecosystem. This is because the carbon neutrality trend is spreading, the importance of energy security is increasing, and the significance of nuclear power is growing worldwide. In fact, the European Union (EU) included nuclear power in the EU taxonomy last February, and the United Kingdom announced plans to raise the share of nuclear power from the existing 16% to at least 25%.
Accordingly, the ministry intends to mobilize all public and private order capabilities to increase the possibility of overseas nuclear power plant orders. Additionally, the ministry plans to strengthen government support such as building export networks, focusing on countries that are actively introducing nuclear power plants this year, including the Czech Republic and Poland.
The ministry will also hold "nuclear power export roadshows" in Saudi Arabia, the United Arab Emirates (UAE), and other countries. It plans to actively participate in international nuclear-related events such as the World Nuclear Association (WNA) Symposium held in the United Kingdom. The ministry will establish a nuclear power export infrastructure that includes acquiring overseas nuclear power and equipment order information and providing information on competing export countries.
Park Dong-il, Director of the Nuclear Industry Policy Division at the Ministry of Trade, Industry and Energy, said, "New nuclear power plant and equipment orders will have a positive effect on restoring the domestic nuclear power ecosystem," adding, "We will promptly launch a 'Nuclear Power Export Strategy Promotion Team' jointly with the public and private sectors."
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