Announcement of Preliminary Feasibility Study Results for Nuclear Power R&D
SMR Budget 399.2 Billion Won, Approximately 30% Decrease
[Asia Economy Sejong=Reporter Dongwoo Lee] The 'Innovative Small Modular Reactor (i-SMR) Technology Development Project,' which has attracted attention as a next-generation nuclear power plant development project, has passed the preliminary feasibility study. From next year until 2028, 399.2 billion KRW will be invested in SMR technology development over six years. However, the originally requested budget of 583.2 billion KRW by the government until 2028 was cut by 184 billion KRW.
On the 1st, the Ministry of Trade, Industry and Energy and the Ministry of Science and ICT announced that the preliminary feasibility study results for this technology development project were reviewed and approved at the preliminary feasibility study general committee held the previous day. Small Modular Reactors are small reactors that reduce capacity (below 300MW) compared to existing large-scale pressurized water reactors (1000MW), enhancing safety and improving economic feasibility through modular configuration.
Following the passage of this preliminary feasibility study, the government expects to carry out innovative technology development and standard design from next year and obtain standard design approval by 2028. The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT plan to closely collaborate from the second half of this year to concretize the basic project plan, secure project budgets, and establish and organize the project team.
Additionally, a total of 348.2 billion KRW will be invested from 2023 to 2030 in the 'Nuclear Power Plant Decommissioning Competitiveness Enhancement Technology Development Project' to develop technology and build infrastructure for dismantling the permanently shut down Kori Unit 1 and Wolseong Unit 1 reactors. This project was also reduced in scale, with a cut of 218.4 billion KRW from the originally requested 566.6 billion KRW.
The Ministry of Science and ICT plans to continuously discover and promote research and development demands such as engineering testing and verification of innovative technologies, and customized technology development to strengthen export competitiveness including intelligent operation and maintenance.
The Ministry of Trade, Industry and Energy stated, "Through the innovative SMR development project, we expect an opportunity to strengthen not only the competitiveness of the domestic nuclear power industry ecosystem but also export competitiveness," adding, "We plan to promote technology development so that Kori Unit 1 and Wolseong Unit 1 can be safely and economically dismantled in the future by advancing nuclear power plant decommissioning technology and establishing practical verification infrastructure at the Nuclear Power Plant Decommissioning Research Institute, ensuring public peace of mind."
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