Lee Chang-yang, Minister of Industry, "Shin Hanul Units 3 and 4, Pre-fabrication Work to be Promoted Within the Year"

On the 10th, Lee Chang-yang, Minister of Trade, Industry and Energy, explained the progress made so far regarding the support measures for nuclear power industry partner companies at a meeting held in the conference room of PK Valve & Engineering located in the Changwon National Industrial Complex, Gyeongnam, with representatives and stakeholders from the nuclear power industry in the Changwon area in attendance.

[Asia Economy Sejong=Reporter Dongwoo Lee] Lee Chang-yang, Minister of Trade, Industry and Energy, stated on the 10th, "Shin Hanul Units 3 and 4 aim to begin construction in 2024, and we will promote efficient procedural operations to ensure that pre-fabrication work orders are issued within this year."

On the same day, Minister Lee held a meeting in Changwon with about 20 officials from Gyeongsangnam-do and the nuclear power industry to announce this.

At the meeting, Minister Lee shared the current policy status and future directions regarding work orders, finance, R&D (research and development), the Energy Industry Convergence Complex, and exports.

The government plans to supply emergency work orders worth 130.6 billion KRW within this year. Work orders worth 86.2 billion KRW have already been issued, and most of the remaining orders will be pushed forward by October. Shin Hanul Units 3 and 4 will pursue efficient procedural operations aiming for construction start in 2024. In particular, pre-fabrication work orders will be issued within this year, and contracts for main equipment will be expedited as much as possible.

Regarding the Energy Industry Convergence Complex, efforts will be actively made to designate Changwon, where nuclear power companies are concentrated, as a nuclear cluster. This designation will support benefits such as R&D, local investment subsidies, and tax incentives.

Along with the designation of the Energy Industry Convergence Complex, it was announced that power public enterprises will supply approximately 1 trillion KRW worth of power generation equipment work orders, allowing nuclear power companies to participate and create new opportunities.

Concerning nuclear power exports, policy capabilities will be consolidated to maximize export potential for reactor types and equipment. The 'Nuclear Power Export Strategy Promotion Team' will begin full-scale operations next week to support continuous ecosystem work order supply through exports.

At the meeting, Korea Hydro & Nuclear Power (KHNP), Doosan Enerbility, and nuclear power equipment partner companies signed a joint cooperation agreement to revitalize the nuclear power ecosystem. The goal of this agreement is for the nuclear industry to enhance ecosystem competitiveness through mutual growth and to contribute to carbon neutrality, energy crisis response, and power supply stabilization. Based on this agreement, the industry plans to cooperate on creating new work orders, joint technology development, personnel exchange, and export achievements.