The South Korean government announced it is set to resume its construction of two nuclear reactors in a bid to expand the generation of nuclear power in the country.
President Yoon Suk-yeol said he intends to rebuild the industry and support its expansion overseas as he pledged to reverse the nuclear phase-out policy of the previous administration.
In a comprehensive energy plan announced Tuesday on Yonhap, it said that the government will resume the works of the Shin-Hanul No. 3 and No. 4 nuclear reactors and continue operations of existing reactors.
The construction and expansion were expected to increase South Korea’s nuclear energy ratio to over 30 percent by 2030 as part of efforts to boost energy security and better meet carbon neutrality goals.
By 2030, South Korea will have 28 nuclear reactors instead of the existing 24.
South Korea’s previous administration aimed to reduce the nuclear energy ratio to 23.9% and the number of operational reactors to 18 by that point.
According to the Ministry of Trade, Industry, and Energy, the Yoon administration also plans to export 10 nuclear reactors by 2030 and set aside 400 billion won ($308 million) for the advancement of small modular reactors (SMR).
During the Cabinet meeting earlier that day, which was presided over by President Yoon, the plan was approved.
By the end of this year, the South Korean government will make an announcement outlining the ideal blend of renewable energy sources, according to the ministry, in an effort to become carbon neutral.
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