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President-elect to extend lifespan of 10 nuclear reactors
Kori Nuclear Power Plant in Busan Korea Times file
By Lee Kyung-min
By Lee Kyung-min
The incoming Yoon Suk-yeol administration will likely extend the lifespan of 10 aging nuclear reactors to realize the president-elect's campaign pledge to make nuclear power account for up to 35 percent of the country's energy source, up from the current 29.4 percent, according to the presidential transition committee Wednesday.
The extension of the old reactors is essentially the only viable option, since the construction of new ones will take a considerable amount of time due to identifying suitable locations, which almost always should be preceded by government feasibility studies.
This is also evidenced by periodic safety reviews conducted by the state-run Korea Hydro & Nuclear Power (KHNP) with the Nuclear Safety and Security Commission, a nuclear safety regulatory and policy-making body, Monday, concerning the planned closure of Kori 2, a 40-year-old nuclear reactor in Busan. Had the state-run energy firm not submitted its request, Kori 2 would have been closed April 8, 2023.
Ten old nuclear reactors are scheduled for closure by 2030. But they are expected to function as a key energy source to facilitate the low-carbon initiative, following strengthened maintenance work for safety.
The extension was also one of the top policy priorities submitted April 24 in a report to the transition committee by the Ministry of Trade, Industry and Energy.
“We maintain that no particular reactors should be excluded from the continued operation of the entire nuclear power facilities,” said Choi Ji-hyun, a senior spokesperson for the presidential transition committee.
The move effectively puts an early end to the years-long nuclear phase-out policy spearheaded by the Moon Jae-in administration, and is the first step in turning the country into a global leader in nuclear technology. It is expected to resume its focus on the development and export of small modular reactors (SMRs), the next-generation nuclear reactors that are smaller and produce less output. Yoon said during the campaign that his administration will export 10 nuclear reactors and create 100,000 related high-end jobs by 2030.
The Kori 2 reactor will be able to operate for 10 more years from 2023, upon the approval of the Nuclear Safety and Security Commission and the Korea Institute of Nuclear Safety.
Placing greater emphasis on the use of the much-blasted energy source was embraced by Prime Minister-nominee Han Duck-soo.
“We need to make a more effective use of nuclear power that produces little greenhouse gas,” he told reporters, April 3.
“Nuclear energy should play a crucial role. If the function of the Nuclear Safety and Security Commission is called into question, we should create a more independent body.”
Seoul National University economist Lee In-ho said the reactor's extension is a step in the right direction.
“A stable supply of nuclear energy backed by strengthened safety protocols will help reduce both industrial production costs and living expenses for the public at least for the time being, amid extreme volatility in the global energy commodity prices sparked by Russia's invasion of Ukraine.”