Solar vs. nuclear: Rival candidates float contrasting energy policies

Then-Democratic Party of Korea Chairman Lee Jae-myung, second from right, who is now running for president, speaks at a solar farm in Sinan County, South Jeolla Province, in September 2022. Yonhap

The June 3 presidential election is considered critical to the Korean energy industry, given the stark contrast between the two leading candidates' views on how best to generate electricity.

Lee Jae-myung of the Democratic Party of Korea (DPK) has pledged to inherit a large part of former liberal President Moon Jae-in's policies aimed at boosting solar power.

Kim Moon-soo of the People Power Party (PPP), by contrast, has aligned with former conservative President Yoon Suk Yeol's legacy by promising to maintain a heavy reliance on nuclear energy.

The DPK candidate outlined his energy policies in his climate crisis response plan, which he ranked as the 10th-most important among his top 10 campaign pledges.

To accelerate the transition to renewables, the current front-runner in the presidential race vowed to shut down all coal-fired power plants by 2040 and build more solar farms in farming villages, aiming to help older residents increase their incomes.

He also said his administration will ease regulations on the required distances between solar panels — a move long requested by Hanwha and other industry players.

"I will enhance the domestic and international competitiveness of industries related to carbon neutrality, such as photovoltaic, wind power, electric vehicles, batteries, water electrolysis and heat pumps," Lee wrote in a document submitted to the National Election Commission (NEC). "Through agrivoltaic systems, eco-friendly organic farming and sustainable stockbreeding, I will reduce carbon emissions from the agricultural sector."

His position on nuclear energy was not included in the document.

However, during a public debate with fellow DPK contenders last month, Lee said it would be difficult to pursue either a radical nuclear phase-out or a policy focused solely on nuclear power.

Distancing him from Moon's anti-nuclear policies, his aides told reporters that Lee plans a gradual nuclear phase-out through public consensus, while maintaining the current share of nuclear power for a while.

"Lee's silence can be interpreted as his acceptance of Yoon's nuclear-friendly stance," Energy Justice Actions, an anti-nuclear civic group, said Monday in a statement. "He should oppose the Yoon administration's nuclear-reliant electricity supply plan and propose a phase-out roadmap.”

A solar industry official said on condition of anonymity that his company may not benefit from Lee's plans, unless he blocks the imports of low-priced Chinese products.

"Despite Moon's policies, domestic photovoltaic companies saw profits decline due to an oversupply of Chinese products," the official said.

People Power Party presidential candidate Kim Moon-soo, left, signs the visitors' book at Doosan Enerbility's headquarters in Changwon, South Gyeongsang Province, Wednesday. Yonhap

Kim vowed to cut industrial electricity rates by increasing the share of nuclear power, in line with his top campaign pledge of making Korea a business-friendly nation.

With his second-most important pledge that focuses on investment in artificial intelligence, the PPP candidate also vowed to support the sector through a stable power supply.

"I will ensure the completion of six large-scale nuclear plants that are under or scheduled for construction," Kim wrote in his NEC submission. "I will secure reliable power sources by commercializing small modular reactors tailored for Korea and expanding nuclear power generation."

On renewables, Kim only said he will increase usage through the development of more advanced power grid systems.

Lee Jun-seok, the candidate of the minor conservative Reform Party, has not proposed any energy policy. He instead pledged to merge the Ministry of Trade, Industry and Energy with the Ministry of SMEs and Startups to form a new Ministry of Industry and Energy.

Kwon Young-gook of the minor progressive Democratic Labor Party — which holds no seats in the National Assembly — proposed the most radical energy agenda of all seven candidates.

Citing the need for decarbonization, he vowed to scrap Yoon's pro-nuclear policies, halt the construction of new nuclear plants and declare an end to coal power by 2035. Under his plan, renewable sources would provide 60 percent of Korea's electricity.