September 19, 2024
SEOUL – The Yoon Suk Yeol administration has ushered in a nuclear energy renaissance as it permitted the long-suspended construction of two nuclear reactors last week. The Nuclear Safety and Security Commission approved the building of Shin Hanul reactors No. 3 and 4 in Uljin, North Gyeongsang Province, Thursday.
They are the first new nuclear power plants to be authorized in the country since the Saeul (formerly Shin Kori) Units 5 and 6 in June 2016, even though Korea Hydro & Nuclear Power Co., the state-run developer of atomic plants, applied for a permit in January 2016. The construction was more than eight years behind schedule because it was nullified under former President Moon Jae-in as he pledged to phase out nuclear power from the country’s energy mix.
With the approval of construction of the Shin Hanul units, Korea has begun the reconstruction of the domestic nuclear industry and moved closer toward a stable supply of electricity.
The construction plan for Shin Hanul Units 3 and 4 was confirmed in 2016. A license for power generation was granted in February 2017. At that time, 790 billion won ($593 million) was spent on purchasing their sites and getting related equipment manufactured. But the Moon administration annulled the construction plan under its nuclear phase-out policy.
The policy which ignored energy security and industrial competitiveness of the country was disastrous. The ecosystem of the domestic nuclear power industry withered. Enrollment in nuclear engineering courses shrank. Sales and human resources in related industries decreased sharply.
Korea’s nuclear power industry was in a dilemma over its push to export nuclear reactors despite giving up on nuclear power generation at home. The country had to rely on costly fossil-fuel power generation to replenish the electricity shortfall caused by the policy. It was a self-injury.
Construction work on Shin Hanul Units 3 and 4 was scheduled to be completed in 2022 and 2023, respectively, under their original plans. But they are expected to be finished in 2032 and 2033, respectively, even if construction starts early next month. The Moon government idled away many years.
Nuclear energy is indispensable to going carbon neutral and meeting soaring power demand from growth industries such as artificial intelligence, semiconductors, data centers and electric vehicles. These industries cannot be sustained if not supported by nuclear power, which is most efficient in increasing electricity. Thermal power emits much carbon, while it is hard to increase the number of hydroelectric power plants because dams must be built.
South Korea is highly recognized worldwide for its advanced technology and ability to build nuclear reactors. It built Korean-type nuclear power plants in the United Arab Emirates and won a nuclear reactor export contract with the Czech Republic. Korea must revive its nuclear industry quickly to strengthen its export competitiveness.
Construction approval is not the end of the nuclear energy renaissance. Even if more power is generated, it is hard to deliver it to the densely populated Seoul area due to deficiencies in the power grid. This is largely because Korea Power Electric Corp. failed to expand electric grid networks under the nuclear phase-out policy and accumulated deficits. The Yoon government, which reversed the policy, and Kepco, are pushing to extend grid networks, but grid construction is often suspended because of opposition from residents and local governments. A special bill to expand the nation’s electricity grid and support nearby residents is pending in the National Assembly. Ruling and opposition parties must process it quickly.
What is concerning is that the main opposition party may resume its antinuclear efforts if it retakes power. Solar and other renewable energies can only supplement nuclear energy considering the geographical conditions of Korea. There should not be a self-injuring policy any longer.