106 Korean Companies Line Up for the 500 Trillion Won Booming Nuclear Decommissioning Market [Digging Energy]

[Specialist Report]
The New Industry Launched by the Kori Unit 1 Decommissioning
588 Nuclear Power Plants to Be Shut Down by 2050
Design, Licensing, Decontamination, Dismantling, Waste Management, and More
106 Domestic Companies Involved in Decommissioning
Hyundai Engineering & Construction and Daewoo Engineering & Construction Eye the Market
Doosan Enerbility and KEPCO KPS Also Draw Attention

As of May 2025, there are 214 permanently shut down nuclear power plants in 22 countries worldwide. To date, only 25 nuclear power plants have been fully decommissioned. The number of nuclear power plants scheduled for shutdown will continue to increase. The International Atomic Energy Agency (IAEA) predicts that a total of 588 nuclear power plants will be permanently shut down by 2050. The cost of decommissioning a single nuclear power plant is approximately 1 trillion won. The nuclear power industry forecasts that the decommissioning market will expand to about 500 trillion won by 2045.

On June 26, the Nuclear Safety and Security Commission approved Korea Hydro & Nuclear Power's (KHNP) decommissioning of the Kori Unit 1 nuclear power plant, officially opening the domestic remote decommissioning market. Related companies have also become more active. Gaining experience and technology in nuclear decommissioning domestically would provide a competitive advantage in the global nuclear decommissioning market, which is estimated at 500 trillion won.

KHNP, First Decommissioning Project Tender

Following the approval from the Nuclear Safety and Security Commission, KHNP commenced the decommissioning work for Kori Unit 1. On July 17, KHNP announced a tender for the 'Decommissioning Construction of Non-controlled Area and Yard Facilities at Kori Unit 1.' With this tender, KHNP is officially starting the decommissioning process. A KHNP representative stated, "We plan to announce additional tenders sequentially according to the work schedule." KHNP plans to complete the decommissioning by 2037 at a cost of 1.0713 trillion won.

The non-controlled area, which is being tendered for the first time, refers to areas within the nuclear facility that do not contain radioactive materials. In light water reactor nuclear plants like Kori Unit 1, the non-radiation zones are dismantled first, followed by the removal of spent nuclear fuel, and then the decommissioning of the radiation-controlled areas and main equipment. Afterward, decontamination and demolition are completed, and site restoration is carried out.

Decontamination refers to the process of physically or chemically removing radioactive contamination from equipment or sites during nuclear decommissioning. For heavy water reactor nuclear plants like Wolsong Unit 1, which is scheduled for decommissioning after Kori Unit 1, the process involves removing spent nuclear fuel first, then proceeding with decontamination and demolition.

It is expected that a total of 170,000 tons of radioactive waste will be generated from Kori Unit 1. Solid radioactive waste generated during the decommissioning process is decontaminated to meet disposal standards at temporary work sites or nuclear decommissioning support facilities (to be constructed within six years after decommissioning approval).

If disposal is not possible, the waste is stored in temporary storage facilities. Liquid and gaseous waste is treated to meet emission management standards before being released. Currently, the spent nuclear fuel from Kori Unit 1 is stored in a wet storage facility, and there are plans to construct a dry storage facility on site for initial storage.

The largest portion of the decommissioning phase is cutting and demolition work, which accounts for 31% of the total cost. For safety, advanced equipment such as robots is used, and highly skilled personnel with extensive technology and experience are deployed. Approximately 28% of the cost is allocated to decommissioning preparation, which also requires highly skilled workers. In addition, decontamination costs account for 5%, waste management for 27%, and environmental restoration for 10% of the total cost.

106 Domestic Nuclear Decommissioning Companies

As the nuclear decommissioning market opens, related companies are paying close attention. According to the Korea Atomic Industrial Forum, as of the end of 2024, there are 106 domestic companies related to nuclear decommissioning, an increase of 10 from the previous year.

Nuclear decommissioning companies are categorized by technical field as follows: ▲Design and licensing (project management, engineering, characteristic assessment, environmental management, radiation management) ▲Decontamination (system decontamination, equipment decontamination, concrete decontamination) ▲Dismantling (mechanical cutting, thermal and electrical cutting, remote control) ▲Waste management (solid, liquid, gaseous waste, special waste, recycling) ▲Site restoration (residual radioactivity measurement, site restoration, regulatory release).

Just as in nuclear construction, construction companies also play a key role in decommissioning. Often, construction firms work together with dozens of small and medium-sized specialized companies on decommissioning projects. In Korea, Hyundai Engineering & Construction and Daewoo Engineering & Construction are targeting the nuclear decommissioning market.

Since 2022, Hyundai Engineering & Construction has been participating in the Indian Point Energy Center (IPEC) nuclear decommissioning project in the United States, the first Korean company to do so. The company is responsible for chemical decontamination, cutting of reactor pressure vessels and internal components, and other decommissioning processes. Through the KHNP-commissioned 'Safety Assessment of Decommissioned Nuclear Site Contamination and Regulatory Release' project, Hyundai Engineering & Construction has also secured site restoration technology.

Daewoo Engineering & Construction is securing technical expertise by carrying out the decommissioning construction and process design services for Wolsong Unit 1, the next plant scheduled for decommissioning after Kori Unit 1. Starting with the main equipment construction for Wolsong Units 3 and 4, Daewoo Engineering & Construction has participated in over 30 nuclear-related projects to date. The company also has strengths in radioactive waste management, having constructed the mid- and low-level radioactive waste disposal facility in Gyeongju.

Korea Plant Service & Engineering (KEPCO KPS), a nuclear maintenance company, has been carrying out system decontamination services for Kori Unit 1 since May last year. System decontamination involves using chemical agents to remove radioactive substances accumulated inside reactor coolant pipes and similar components. A KEPCO KPS representative explained, "We are continuously pursuing decommissioning project contracts in line with KHNP's decommissioning construction tender plans."

Doosan Enerbility, a major nuclear equipment manufacturer, is also preparing to participate in the nuclear decommissioning business. Doosan Enerbility has accumulated related technology by participating in the development of internal structure cutting technology for reactors and other components, a national project led by KHNP.

In addition, small and medium-sized companies such as Green Radiation (tritium treatment technology, etc.), Nuclear Engineering (decommissioning safety assessment, etc.), Dongwon Entec (waste management, etc.), SunKwang TNS (decontamination technology, etc.), SeaN Enertech (radiation measurement and nuclide analysis, etc.), Susan Industry (decontamination and dismantling), NET (radiation measurement and waste management, etc.), OrbiTech (radiation measurement and waste management, etc.), and Orion ENC (dismantling and waste management, etc.) are also preparing to participate in nuclear decommissioning projects.

KHNP has established and is operating three new organizations dedicated to decommissioning, with a total of 108 personnel. From 2014 to 2033, the company has trained 599 decommissioning specialists.