The Board of Audit and Inspection (BAI) has concluded that the economic feasibility of the aged Wolsong-1 reactor was inappropriately assessed in the process of determining its early decommissioning. But the BAI stopped short of deciding on the validity of the reactor shutdown, saying it is not supposed to deal with the issues of reactor safety and residents' acceptance of the nuclear power plant.
BAI's announcement has renewed debate over President Moon Jae-in's much-touted nuclear phase-out policy. The nation is split down the middle on the matter. The ruling Democratic Party of Korea (DPK) asserted that the BAI inspection shows the phase-out scheme is going in the right direction despite some procedural problems. But the opposition bloc claimed the economic feasibility assessment was manipulated to support Moon's policy.
The BAI inspection is expected to generate further controversy over the planned closure of other reactors. In June 2018, Korea Hydro & Nuclear Power (KHNP) decided to shut down the Wolsong-1 reactor earlier than scheduled, concluding it lacked economic profitability. There should be an investigation into relevant figures as the BAI cited problems with the operator's calculation of electricity prices, wages and repair expenses.
Some local media outlets reported officials from the Ministry of Industry, Trade and Energy and the KHNP colluded to fabricate the data to purposely lower the economic value of the Wolsong-1 reactor in support of the phase-out policy. The prosecution needs to investigate the alleged fabrication and discover who should be held responsible for the procedural errors.
The BAI inspection began in October last year at the request of the National Assembly. Yet, the BAI has suffered difficulties due to partisan conflicts between the rival political parties and noncooperation from the government and the reactor operator. BAI head Choi Jae-hyoung admitted during a National Assembly audit that he faced severe resistance in the course of assessing the reactor.
The Wolsong-1 reactor began operation in April 1983 and was supposed to be decommissioned in November 2012. But in May 2015, the Park Geun-hye administration decided to extend its operation until 2022. The KHNP poured in 590 billion won ($513 million) to repair the superannuated facilities. In March 2018, it reported that the immediate decommissioning of the reactor would save 170 billion won compared with the financials of its continued operation.
Then, the National Assembly called on the BAI to carry out an inspection of the KHNP report. The ruling camp has been wary of the BAI inspection as it could have a far-reaching impact on the government's nuclear policy.
Korea has been known for its world-class competitiveness in operating nuclear reactors. Now other nations are making efforts to tap nuclear energy. For instance, the United States has set up a strategy to revitalize the reactor industry while Japan has embarked on nuclear fuel reprocessing. The Moon administration should heed the global trend and reconsider its nuclear phase-out policy.