City
Epaper

S.Korean Prez pledges to rebuild nuclear power industry

By IANS | Updated: June 22, 2022 14:05 IST

Seoul, June 22 South Korea's President Yoon Suk-yeol pledged on Wednesday to rebuild the nuclear power industry and ...

Open in App

Seoul, June 22 South Korea's President Yoon Suk-yeol pledged on Wednesday to rebuild the nuclear power industry and support its expansion overseas, underscoring his commitment to reversing the nuclear phase-out policy of the previous administration.

Yoon made the remark after touring a nuclear reactor factory owned by Doosan Enerbility in Changwon, 300 km southeast of Seoul, Yonhap news agency reported.

During the campaign, the president had pledged to resume construction of the Shin-Hanul No. 3 and No. 4 nuclear reactors and to aim to export 10 nuclear reactors by 2030.

"Our nuclear power plants are recognised for their world-class technology and stability," Yoon said during a meeting with industry and government officials at the Doosan Enerbility headquarters.

"The competitiveness of our nuclear plant businesses lies in our ability to construct on time and on budget, which no other company in the world can imitate," he said.

Yoon took a swipe at the previous Moon Jae-in administration, saying "had we not been foolish over the past five years and further reinforced the nuclear power ecosystem, we probably would not have any competitors now."

Still, the president noted the door to the nuclear power plant export market is "wide open" and that countries such as Saudi Arabia, the Czech Republic, Poland and the United States recognize nuclear power as a key energy source on the path to carbon neutrality.

"We've set our policy direction," Yoon said, referring to his plans to scrap the nuclear phase-out policy and rebuild the nuclear energy sector.

"It's not just the direction that's important, but quickly putting it on track," he added. "The government will provide active assistance so that the industrial sites and factories in Changwon, the hub of the nuclear power ecosystem, can bounce back and all of you can be excited to work."

The industry ministry said the government will provide companies in the nuclear power industry with work worth 92.5 billion won (US$71.36 million) this year and invest 670 billion won to support their research and development, according to the industry ministry.

It will also devise various support measures for smaller nuclear energy companies, including 100 billion won worth of emergency funds.

For the development of an advanced homegrown small modular reactor, nearly 40 billion won will be earmarked through 2028, according to the ministry.

The government also decided to set up a graduate school on high-level radioactive wastes to nurture experts in the sector, and provide various education and training programs to employees in the field, it added.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Doosan EnerbilityseoulYonhapSouth KoreaRepublic of koreaDelle pooleSouth asia regional connectivity
Open in App

Related Stories

MumbaiMumbai 3.0: MMRDA Joins Hands With South Korea for a Bold Urban Transformation

EntertainmentBTS Jin Aka Kim Seokjin To Make Comeback in May 2025, Reports

EntertainmentKim Soo Hyun Controversy: Brands Cut Ties, Poster Removed in Aftermath of Dating Scandal with late Actress Kim Sae Ron (Watch Video)

EntertainmentKim Soo Hyun Controversy: Actor Breaks Down in Tears While Addressing Allegations Made by Late Kim Sae-Ron Family (Watch Video)

InternationalSouth Korea Helicopter Crash: Pilot Killed as Chopper Fighting Wildfires Crashes in Uiseong

Politics Realted Stories

Maharashtra'Unity Not Just for Elections': MNS Leader Sandeep Deshpande on Possible Thackeray Alliance

PoliticsMurshidabad Violence: Shehzad Poonawalla Slams Yusuf Pathan Over Tea Post, Says, “As Hindus Get Slaughtered…”

PoliticsTamil Nadu Assembly Elections 2026: BJP-AIADMK Join Hands, Palaniswami To Lead Alliance, Says Amit Shah

Politics‘No Injustice to Muslims’: Shiv Sena Leader Manisha Kayande Slams Opponents of Waqf Amendment Bill

NationalParliament Passes Waqf Amendment Bill: Two JDU Leaders Resign Over Party's Support