President Yoon Visits Gyeongnam: "Full Support for Changwon Nuclear Power Plant's Rebound"

Governor Park Wansu Requests Deregulation for South Coast Tourism Development

President Yoon Suk-yeol reiterated his commitment to fostering the nuclear power industry at the Livelihood Discussion Forum held at the Gyeongnam Provincial Government Office on the 22nd.

On the morning of the same day, at the provincial government’s main conference room, President Yoon stated, “I will make this year the inaugural year for the resurgence of South Korea’s nuclear power plants.”

He said, “Following former President Rhee Syngman, who foresaw the future of nuclear power by signing the Korea-US nuclear agreement, establishing the Korea Atomic Energy Research Institute and the Nuclear Power Institute, and setting up nuclear engineering departments at Seoul National University and Hanyang University, former President Park Chung-hee formulated a long-term nuclear power plan. Through this, South Korea supplied cheap and high-quality electricity and became one of the world’s top 10 powers.”

President Yoon Suk-yeol is speaking at the Livelihood Discussion held at the Gyeongnam Provincial Government Office.
[Photo by Gyeongnam Provincial Government Office]

“Changwon in Gyeongnam has led the localization of nuclear power plants for over 40 years and driven the development of the nuclear power industry, but due to the previous government’s nuclear phase-out policy, companies and livelihoods have fallen into hardship,” he said.

“Right after taking office, I saw that nuclear power companies in Changwon were barely able to pay salaries and were surviving on loans, so I made the restoration of the nuclear power ecosystem my top priority. Currently, the nuclear power industry is rapidly recovering centered on Changwon, but this year, we will provide even more comprehensive support,” he declared.

According to President Yoon, this year the government will expand the complete restoration and qualitative advancement of the nuclear power industry, one of Changwon’s core industries, by ▲increasing nuclear power orders to 3.3 trillion won ▲activating advance payment exceptions ▲implementing a special 1 trillion won financial support program for nuclear power companies ▲expanding tax credits in the nuclear sector through amendments to the Enforcement Decree of the Restriction of Special Taxation Act.

▲Investing 4 trillion won over five years in nuclear power research and development, including small modular reactors (SMRs) ▲enacting the Special Act on Nuclear Industry Support ▲establishing and promoting a mid- to long-term roadmap for rational carbon neutrality will also be pursued.

Additionally, plans include ▲actively supporting the Changwon National Industrial Complex ▲lifting usage regulations and industry restrictions in industrial complexes ▲creating a complex cultural center within the industrial complex ▲rebuilding aging factories ▲expanding the government’s industrial complex renovation fund to 200 billion won.

The 14th Public Discussion Forum is being held in the main conference room of the Gyeongnam Provincial Government Office.
[Photo by Gyeongnam Provincial Government Office]

The youth-friendly Sanridangil project, which will introduce convenience facilities, parks, and cafes within the industrial complex, easing development restriction regulations in the Changwon area, investing over 20 trillion won in regional strategic industries, and supporting the establishment of a small modular reactor (SMR) cluster are also scheduled.

Furthermore, the Corporate Innovation Park project, which grants companies land expropriation rights and industrial complex development rights, will begin in Geoje, aiming to establish three major industry hubs in culture and arts, information and communications, and bio-medical sectors through deregulation of land, shortened permits, and financial support.

Projects such as southern regional wide-area tourism development, the Korea-ASEAN National Garden creation, and the Southern Inland Railway will also be rapidly implemented.

President Yoon said, “There are concerns from companies, researchers, and academia that the nuclear power ecosystem might face another crisis due to future changes in nuclear policy,” adding, “To address this, we will legislate the basis for nuclear policies and support for new industries such as small modular reactors.”

“Along with Ulsan, which I visited the day before, Changwon, which is like one of the two hearts of our country’s industry, lacks cultural elements, making it difficult to attract companies and talent,” he said. “We will actively support making it a place where young people want to stay and work, where culture and industry harmonize.”

The forum was attended by about 100 people, including Minister Ahn Deok-geun of the Ministry of Trade, Industry and Energy, Minister Lee Jong-ho of the Ministry of Science and ICT, Governor Park Wan-su, Changwon Special City Mayor Hong Nam-pyo, Geoje Mayor Park Jong-woo, officials from nuclear-related ministries and companies, nuclear engineering university and graduate students, and local residents.

Gyeongnam Governor Park Wan-su is requesting deregulation to revitalize tourism development on the southern coast at a public discussion forum. [Image source=KTV National Broadcasting YouTube capture]

Governor Park said, “Gyeongnam has faced many difficulties in nuclear power, shipbuilding, and defense industries, but since the current government took office, orders have increased and the region is revitalizing, for which I am grateful,” adding, “With the passage of the special law for the Aerospace Administration, a key presidential pledge, the Aerospace Administration will be built in Sacheon in May, making Gyeongnam the center of South Korea’s nuclear power, aerospace, and shipbuilding industries.”

He continued, “The southern coast of Gyeongnam is truly beautiful,” and said, “This year, our Gyeongnam Province plans to focus intensively on developing southern coastal tourism.”

Governor Park emphasized, “The local economy is revitalizing due to various deregulations, and I hope the deregulation of the southern coast will also be actively pursued,” adding, “We will develop southern coastal tourism into a growth engine for South Korea.”

“Along with this, I hope the central government will pay attention to the early construction of the Southern Inland Railway and support for industrial workforce issues at company sites,” he added.