S. Korea to raise nuclear power share to 32.4% by 2030

Shin Hanul 1 reactor [Photo by Kim Ho-young]

South Korea will raise the share of nuclear power generation to 32.4 percent in its energy mix by 2030, accelerating President Yoon Suk-yeol’s commitment to strengthening the nuclear power industry and reversing the nuclear phase-out policy set by the previous administration.

According to the latest energy supply basic plan shared by the Ministry of Industry, Trade and Energy with the National Assembly on Wednesday, the government plans to raise the share of nuclear power generation to 34.6 percent by 2036, up from 23.4 percent in 2018.

“We came up with a feasible and balanced energy mix plan that reflects adequate level of renewable energy and utilizes nuclear energy after comprehensively reviewing economic and environmental feasibility and safety while underscoring stable energy supply,” said Industry Minister Lee Chang-yang.

There are 7 nuclear power units that are either under construction or expected to be built. Construction of the Shin Hanul 2 reactor will be completed this year, and gradually Saeul 3 and 4 and Shin Kori 5 and 6 by 2025. Construction of Shin Hanul 3 and 4 reactors that was suspended in the previous Moon Jae-in government is also expected to resume.

Ten reactors, including Kori 2, 3, and 4, will also continue operations.

Under the plan, the share of renewable energy will also expand to 21.6 percent in 2030 and 30.6 percent in 2036, up from 6.2 percent in 2018. The share of coal, on the other hand, will be reduced to 19.7 percent in 2030 and 14.4 percent in 2036 from 41.9 percent in 2018, and that of liquefied natural gas to 22.9 percent in 2030 and 9.3 percent in 2036 from 26.8 percent in 2018.