DP "Democratic Party Cuts SMR Budget...Reviving the Ghost of Nuclear Phase-Out?"

At the Supreme Council Meeting, Nuclear Power Budget Cuts Criticized
Yoon Jae-ok: "Why Cut Lee Jae-myung's Presidential Campaign Promise?"
Yoo Ui-dong: "Democratic Party, Please Cooperate Magnanimously"

The People Power Party criticized the budget cuts led by the Democratic Party of Korea on the Yoon Suk-yeol administration's next year's nuclear power-related budget on the 23rd, calling it a "disastrous act." In particular, they condemned the complete elimination of the budget for small modular reactors (SMR), which had been researched since the Moon Jae-in administration, saying it goes against international trends.

Yoon Jae-ok, floor leader of the People Power Party, said at the Supreme Council meeting held at the National Assembly on the same day, "On the occasion of President Yoon Suk-yeol's state visit to the United Kingdom, Korea and the UK signed nine memorandums of understanding on nuclear power cooperation, agreeing to collaborate across the entire nuclear power industry cycle, from nuclear power plant design to waste disposal." He added, "Korea's nuclear power technology is recognized worldwide and is emerging as a major export industry, but in our National Assembly, the Democratic Party is reviving the ghost of denuclearization and blocking the future of the nuclear power industry."

Kim Ki-hyun, leader of the People Power Party, and Yoon Jae-ok, floor leader, are attending the Supreme Council meeting held at the National Assembly on the 23rd. Photo by Kim Hyun-min kimhyun81@

The National Assembly standing committee responsible for reviewing the nuclear power budget is the Industry, Trade, Energy, Small and Medium Enterprises Committee. On the 20th, the committee held a plenary session and passed the Ministry of Trade, Industry and Energy's budget for next year, cutting 182 billion won from the nuclear power sector budget solely by the Democratic Party. On the other hand, the renewable energy industry budget was increased by 454 billion won.

Floor leader Yoon said, "In particular, the complete elimination of the innovative SMR research and development budget is a serious self-contradiction that even Democratic Party supporters cannot accept," adding, "The innovative SMR project was actively promoted under the Moon Jae-in administration in 2021, passed the preliminary feasibility study in May 2022, and is currently ongoing. It was also a presidential campaign pledge of candidate Lee Jae-myung."

Yoon also pointed out, "Even when members of the Democratic Party's Science, Technology, Information and Broadcasting Committee cut 1.16 trillion won from the Yoon Suk-yeol administration's research and development budget, they did not touch the innovative SMR budget. Yet, the Industry Committee cut the buds of fourth-generation technology crucial to the future of the nuclear power industry, while leaving the renewable energy budget, which was tainted by corruption and scandals, intact."

Yoon criticized, "No matter how much the president, as Korea's number one salesperson, achieves sales results abroad, the Democratic Party, which holds the majority seats, is obstructing. Can they still be called a ruling party that values national interests?"

Yu Ui-dong, chairman of the Policy Committee, also pointed out that the budget cuts for nuclear power projects were inappropriate. At the meeting that day, Yu said, "Seventeen countries worldwide, including the United States and France, are focusing on SMR development. We must not go against the country's long-term energy policy," and requested, "We ask for the Democratic Party's magnanimous cooperation."