Assemblyman Kim Seong-won, "Complete Collapse of Nuclear Industry During Moon Jae-in Administration's 5 Years" Direct Criticism

9 out of 10 Small Nuclear Power Companies Face Decline, 1 in 3 Have Zero Orders
Shinhanul Nuclear Power Units 3 and 4 Construction Resumption Earliest in 2024, Immediate Support Measures Needed

[Office of Assemblyman Kim Sung-won]

[Asia Economy Reporter Ra Young-cheol] Kim Seong-won, a member of the National Assembly from the People Power Party (Dongducheon·Yeoncheon, re-elected), urged the government to provide immediate support to small and medium-sized nuclear power companies that have been brought to the brink of collapse due to the Moon Jae-in administration's nuclear phase-out policy.

During the National Assembly Industry, Trade, Energy, Small and Medium Business Committee's work report on the 28th, Rep. Kim pointed out, "The nuclear power industry ecosystem has completely collapsed over the five years of the Moon Jae-in administration," adding, "The painstakingly built tower accumulated over 50 years since the 1970s has crumbled."

He continued, "Most small and medium nuclear power companies are trying to survive by picking up non-nuclear business orders unrelated to nuclear power, so-called 'Isakjupgi' (gleaning)," highlighting the seriousness of the situation.

He also questioned whether the small and medium companies currently pushed to their limits can hold out until then, urging the government to prepare specific and effective support measures that can immediately help the field.

According to Rep. Kim's office, the 2020 Nuclear Industry Status Survey released by the Korea Nuclear Industry Association showed that ▲domestic nuclear industry sales decreased by 19%, from 27.4513 trillion won in 2016 to 22.2436 trillion won in 2020.

In particular, sales of nuclear supply industry companies, which include small and medium nuclear power companies, sharply dropped by 26%, from 5.5034 trillion won to 4.0573 trillion won during the same period.

As the nuclear industry ecosystem collapsed, the proportion of small and medium nuclear power companies with sales under 10 billion won surged from 79.4% in 2016 to 87.4% in 2020, with 9 out of 10 companies becoming small-scale.

Many companies have completely lost orders. As of 2020, among 645 nuclear equipment and parts companies, 242 (37.5%) had no related orders at all, meaning one in three companies had no work.

Rep. Kim stated, "The only hope for restoring the nuclear power industry, Shin Hanul Nuclear Power Plant Units 3 and 4, can only resume construction in 2024 due to procedures under current laws such as environmental impact assessments."