"Nuclear Power Quadrupling in the U.S." Global Nuclear Boom Intensifies [AK Radio]

300 Additional Plants Expected by 2050
Korean Nuclear Power Leads in Price and Construction Time Competitiveness

U.S. President Donald Trump has announced plans to increase the country's nuclear power generation capacity by more than four times by 2050, signing four related executive orders. This move is interpreted as a determination not to fall behind China, which has been pushing for the approval of 44 new nuclear power plants by the end of last year. President Trump has also pledged to build 10 new nuclear power plants by 2030.

Not only in the United States, but also in Europe?which has long been considered a stronghold of eco-friendly and anti-nuclear policies?there is now a surge of nuclear plant construction, leading analysts to describe the current era as a global "nuclear renaissance." President Trump's executive orders on nuclear expansion focus on regulatory reform rather than simply providing technological support. The most notable aspect is the plan to shorten the environmental review period for new nuclear plants by the Nuclear Regulatory Commission to within 18 months, whereas it previously took at least two to three years. This would cut the review period by more than half, demonstrating a strong commitment to accelerating nuclear plant construction.

All regulations related to the trial operation of new reactor prototypes currently under testing will also be eased. In addition, the administration has set a goal to complete 10 new nuclear plants that have finished the design phase in the United States by 2030, no matter what. The executive orders also include measures for restarting closed plants, increasing power generation at existing plants, and improving the nuclear fuel supply chain.

The U.S. Department of Energy has also been instructed to establish a plan to increase domestic enriched uranium production within 120 days. President Trump described nuclear power as a "very safe and eco-friendly industry" and declared his intention to revive the American nuclear sector, which has lagged behind due to unscientific safety concerns. He has even referred to this as a "nuclear renaissance."

If the newly announced nuclear expansion targets are achieved, the U.S. would need to build about 300 additional nuclear plants by 2050. Currently, the United States ranks first in the world with 94 operating nuclear plants, followed by China and France with 57 each, Russia with 36, and South Korea with 26.

AP Yonhap News

The issue is that China currently has 44 nuclear plants under construction. If China completes these by 2030, it will have a total of 101, surpassing the United States' 94. This raises security concerns that the U.S. could fall behind China in enriched uranium production and other nuclear-related fields. This is also why the Trump administration is rushing to ensure the unconditional construction of 10 large nuclear plants by 2030.

Europe, a complete reversal from nuclear phase-out to nuclear reintroduction. Europe has long been regarded as the epicenter of anti-nuclear policies, especially after the Chernobyl nuclear disaster during the former Soviet era, which led to strong public opposition to nuclear power. The aftereffects are still severe in Belarus, which was hit hardest by the disaster, with more than 50% of its territory still designated as a restricted zone.

However, the nuclear phase-out policy has undergone a complete reversal due to the war in Ukraine and extreme weather events caused by global warming. The war in Ukraine has made it difficult for Europe to operate gas turbine power plants, which previously accounted for 30% of the region's energy production. The suspension of cheap Russian gas imports due to sanctions against Russia has further worsened the power shortage.

Moreover, wind and solar power generation has also dropped significantly. Although renewable energy accounted for 47% of Europe's electricity mix, abnormal weather has drastically reduced the wind needed for wind power, and an increase in cloudy days has caused solar generation to plummet. In Germany, the largest renewable energy producer in Europe, wind power generation in 2022 and 2023 fell to half the usual levels, leading to growing public sentiment that "nuclear power is indispensable."

Currently, only France, which relies primarily on nuclear power, produces enough electricity to export. As a result, most countries in Western and Eastern Europe are importing electricity from France. Accordingly, not only the Czech Republic?which recently signed a nuclear contract with Korea Hydro & Nuclear Power?but also Poland, Austria, and other Eastern European countries, as well as Italy, Spain, and Denmark, are considering reintroducing nuclear power.

The data center of the National Energy Research Scientific Computing Center (NERSC) in Berkeley, California, USA. Photo by Reuters Yonhap News

Another factor behind the global nuclear construction boom is the surge in electricity demand driven by advances in AI technology. The electricity consumption of data centers established for global generative AI operations doubled from 250 terawatt-hours (TWh) in 2020 to over 500 TWh last year. It is projected to exceed 1,000 TWh by 2026. Data centers require a stable power supply, as power outages or disruptions can cause massive data loss, making nuclear and thermal power more suitable than renewables like wind and solar. However, due to high carbon emissions from thermal power, many countries are turning to nuclear energy.

In the future, there are also efforts to develop AI technologies that can operate on low power. Research is underway on cell-fusion AI technologies that mimic human brain cells, as the human brain consumes only about 20 watts per hour. If such bio-integrated AI is developed, electricity consumption could be greatly reduced. However, it is expected to take several decades for these technologies to mature, so nuclear expansion is considered inevitable until then.

This situation is expected to be a huge opportunity for South Korea. Since the United States will need to build about 300 additional nuclear plants by 2050, it is unlikely that American companies alone can meet this demand, making cooperation with Korean companies necessary.

Only five countries in the world possess the technology to export nuclear plants: the United States, China, Russia, France, and South Korea. However, with China and Russia facing obstacles to overseas orders due to deteriorating relations with the U.S. and Europe, the competition is expected to narrow to Korea, the U.S., and France.

In fact, in the bidding for the Czech nuclear project, Korea Hydro & Nuclear Power, Westinghouse of the U.S., and Electricite de France (EDF) of France competed, with the Korean company ultimately selected as the preferred bidder. Although there are still legal disputes with the French side, local sources expect the Korean side is likely to proceed with the contract.

With most countries in both Eastern and Western Europe moving to reintroduce nuclear power, industry experts believe that, even with three-way competition, the sheer volume of projects will inevitably lead to a large number of orders for Korea. European countries reportedly prefer Korean nuclear plants over EDF's due to lower prices and shorter construction times. As nuclear exports are expected to become a new growth engine for South Korea, there is also speculation that the domestic political landscape will shift toward supporting the nuclear industry. Even if candidates have different views, it is expected that they will ultimately support nuclear exports.