[Inside Chodong] The Nuclear Phase-Out Has Ended... How Prepared Are We for Future Energy?

With the start of production for Shin Hanul Units 3 and 4, the 'nuclear phase-out' policy has come to an end. Shin Hanul Units 3 and 4, located in Uljin, Gyeongbuk, are scheduled to be completed sequentially in 2032 and 2033. The Shin Hanul nuclear power project faced numerous twists and turns, including cancellation and suspension of licensing procedures due to the nuclear phase-out policy.

Over the next decade, as the nuclear power plants are constructed, the nuclear industry is hoping for a revival. Doosan Enerbility, which manufactures the main equipment, plans to supply core components such as turbine generators, nuclear power instrumentation and control systems, and reactor coolant pumps through over 460 partner companies. Nuclear-related companies, which were once on the verge of shutting down their factories, are finally emerging from a dark period and expressing the emotional hardships they endured.

What has the nuclear phase-out left us? Recently, the Seoul National University Nuclear Policy Center released an analysis estimating that the ripple effects of the nuclear phase-out will incur costs of 47 trillion won from 2017 to 2030. This estimate is based on the assumption that the reduction in nuclear power generation capacity will be replaced by more expensive gas power. Even considering the sharp rise in gas prices due to the Russia-Ukraine war, this is a substantial cost.

The 2011 Fukushima nuclear accident in Japan served as a turning point for us to reconsider nuclear power. It vividly demonstrated that accidents can occur at any time at nuclear plants and can cause devastating damage. Furthermore, controversies surrounding the release of contaminated water have recently arisen, and the aftershocks of the Fukushima accident continue to this day, with decommissioning work scheduled to be completed by 2051.

What about South Korea? Despite its small land area and high population density, South Korea operates 25 nuclear reactors. Even a single accident could cause catastrophic damage. However, as a resource-poor country heavily dependent on energy imports, nuclear power must be utilized as a major energy source. Above all, safe operation and management are absolutely essential. Legislation to establish facilities for the disposal of high-level radioactive waste must also be accelerated.

We must not rely solely on nuclear power. Preparations for the next era are urgent. In addition to utilizing renewable energy for carbon neutrality, active development and fostering of hydrogen and ammonia technologies, recognized as eco-friendly energy sources, must be pursued.

Nationwide solar power capacity (excluding private solar installations) has nearly tripled from 7,130 MW in December 2018 to 21,953 MW in May 2023. However, due to the failure to prepare transmission networks in time, many regions are experiencing output control measures that block grid connections for solar power generation. It is an absurd situation where solar power cannot be generated even when the sun is shining.

Government support is equally critical for hydrogen. This year, the government implemented a hydrogen power bidding system and plans to promote a clean hydrogen certification system next year. However, companies preparing hydrogen as a future growth engine complain that without active government support, fostering the ecosystem is difficult. Although the hydrogen sector is included in the national strategic technologies, it is regrettable that it is limited to certain mobility industries.

France’s push for a Green Industry Act, which claims "nuclear power is also eco-friendly," carries significant implications for us. The Green Industry Act includes tax deductions for investments in eco-friendly technologies such as batteries, electric vehicles, heat pumps, solar panels, and wind turbines. It shows an intention to continue supporting eco-friendly energy while operating nuclear power plants. The nuclear phase-out is over, but preparations for future energy have just begun.