Democratic Party Shifts from Nuclear Phase-Out to Pragmatic Approach?... 'Nuclear Power Budget' Passed as Originally Proposed

Agreement Reached on SMR Budget Increase

The nuclear power budget proposal submitted by the government passed the National Assembly standing committee on the 12th. Last year, the Democratic Party of Korea, which had completely cut the 'nuclear power ecosystem normalization' budget, approved the related budget as is this time, leading to interpretations that there may be a change in the anti-nuclear power policy stance.

The National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee held a plenary session on the same day and approved the 2025 budget proposal under the jurisdiction of the Ministry of Trade, Industry and Energy, the Ministry of SMEs and Startups, and the Korean Intellectual Property Office, which includes a nuclear power-related budget of 213.889 billion KRW.

This includes 150 billion KRW for financial support for the nuclear power ecosystem, 32.92 billion KRW for the development of innovative Small Modular Reactor (i-SMR) technology, 11.208 billion KRW for nuclear power ecosystem support, and 3.5 billion KRW for the development of flexible nuclear power operation technology. The budget for the SMR Production Support Center construction project was finalized at 5.58 billion KRW, an increase of 100 million KRW from the government proposal.

President Yoon Suk-yeol is delivering a congratulatory speech at the 'Comprehensive Completion Ceremony of Shin Hanul Nuclear Power Plant Units 1 and 2 and Groundbreaking Ceremony of Units 3 and 4,' held on the 30th of last month at the Hanul Nuclear Power Headquarters of Korea Hydro & Nuclear Power in Uljin-gun, Gyeongbuk. Photo by Yonhap News

During the budget review process, Democratic Party lawmakers proposed budget cuts, but after discussions between the ruling and opposition parties, they agreed to maintain the government proposal.

This is interpreted as part of the 'pragmatism' line emphasized by Lee Jae-myung, leader of the Democratic Party, and indicates an adjustment to the anti-nuclear power policy. This contrasts with last year's Industry Committee budget review, where the Democratic Party unilaterally cut a total of 190 billion KRW, including 111.2 billion KRW for nuclear power ecosystem support.

Tensions are expected during the Budget and Accounts Special Committee review. Seo Wang-jin, a lawmaker from the Innovation Party for the Nation, criticized, "The budget for the SMR Production Support Center was requested to be cut but was instead increased," adding, "If the government pushes the pro-nuclear power policy too hard, it could lead to a regression in energy policy."