Ministry of Industry: "Inclusion of Nuclear Power in EU Taxonomy Will Expand Export Opportunities"

"Supplementing Korea-type Taxonomy Underway"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jun-yi] The Ministry of Trade, Industry and Energy forecasted on the 7th that "opportunities for exporting Korean nuclear power plants will expand in the global market" in relation to the European Parliament's decision the previous day to include nuclear power in the green taxonomy.

The ministry stated in a press release on the same day, "The European Parliament's resolution to include nuclear power in the EU (European Union) taxonomy strongly indicates that policies are shifting globally, centered on the EU, toward increasing the utilization of nuclear power."

The ministry added, "With the European Parliament's approval of the EU taxonomy, it can be evaluated that funding for EU countries such as the Czech Republic and Poland, which are promoting nuclear power plant construction, will become easier, creating a favorable environment for advancing nuclear power projects."

It also said, "The claim that 'the phase-out of nuclear power is a global trend' is completely untrue," noting that "as of last month, a total of 441 nuclear reactors (394GW) are operating in 33 countries worldwide, and 17 countries are pursuing 53 new reactors."

The ministry explained that, in line with this trend, it is working on supplementing the Korean-style taxonomy and plans to gather opinions from various sectors on including nuclear power in the Korean-style taxonomy, considering the standards discussed in the EU and domestic circumstances.