Project pace depends on National Planning Commission report; site selection and new Climate and Energy Ministry expected to be key variables
The government’s plan to introduce two new large-scale nuclear reactors and one small modular reactor (SMR) is expected to see a definitive decision on whether to commence within this year, with this week serving as a critical turning point.
While the new administration’s official nuclear policy has yet to be announced, if the National Planning Commission includes new nuclear power initiatives in its concluding report this week, the project’s pace is likely to accelerate. However, if such content is absent, it may be difficult to push ahead with the plan within this year.
According to government and nuclear industry sources on August 11, the National Planning Commission is scheduled to end its activities on the 14th after submitting a report on national governance plans to President Lee Jae-myung on the 5th. The Ministry of Trade, Industry and Energy (MOTIE), responsible for energy policy, and the Nuclear Safety and Security Commission (NSSC), which oversees nuclear operation approvals, completed their work reports to the Commission in June. The NSSC reportedly presented plans to promptly establish safety regulatory frameworks in response to the development of the integrated small modular reactor (i-SMR).
Although MOTIE has not disclosed detailed contents of its report, both the government and industry believe it included the 11th Basic Plan for Electricity Supply and Demand (the 11th Basic Plan) finalized in February this year. The core of this plan is to introduce two new reactors with a combined capacity of 2.8 GW and one SMR by 2037-2038, marking the first new nuclear construction plan in 10 years since the 7th Basic Plan announced in 2015.
Korea Hydro & Nuclear Power (KHNP) signed a main contract in June for a new nuclear plant project in the Czech Republic. Domestically, KHNP expressed intentions to swiftly proceed with site selection after the 11th Basic Plan’s announcement, but actual procedures have been delayed for six months due to former President Yoon Suk-yeol’s impeachment and the inauguration of the new government.
As a result, the nuclear industry is closely watching the national governance plan announcement this week and holds expectations that new nuclear power deployment may gain momentum depending on the government’s stance.
Kim Seong-hwan, the nominee for Minister of Environment, has repeatedly expressed during confirmation hearings that the construction of new nuclear reactors under the 11th Basic Plan is inevitable. President Lee Jae-myung has also shown a positive attitude toward nuclear power utilization, emphasizing a reasonable energy mix based on safety.
Since the 11th Basic Plan is a finalized long-term national energy supply plan, changes are unlikely. However, delays in site selection could push the construction start to next year. Site selection is a sensitive issue involving local communities and residents’ responses, requiring strong government will.
Furthermore, the newly pledged establishment of the Ministry of Climate and Energy by President Lee poses another variable. If launched, this new ministry is expected to take over overall energy supply policies previously under MOTIE, with organizational setup and staffing likely to take some time.
A government official said, “KHNP has completed all preparations for site selection and can proceed with the schedule immediately once clear government guidelines are issued, regardless of the Climate and Energy Ministry’s establishment.”
Source: The Korea Post