SoKor To Expand Nuke Power Output To 30% Of Energy Demand By 2030

South Korea plans to increase nuclear power capacity to more than 30% of total energy output by 2030 as part of efforts to improve energy security and satisfy carbon neutrality targets, the industry ministry said Tuesday, Yonhap News Agency reported.

Photo Insert: South Korea's nuclear reactor count will rise to 28 by 2030, up from 24 now.

The Yoon Suk-yeol government has promised to reverse the previous administration's nuclear phase-out strategy, revive the sector, and encourage its international expansion.

According to the comprehensive energy plan presented on Tuesday, the government would restart construction of the Shin-Hanul No. 3 and No. 4 nuclear reactors and continue operations of existing reactors, increasing the country's nuclear energy ratio to more than 30% by 2030.

South Korea's nuclear reactor count will rise to 28 by 2030, up from 24 now. The previous administration aimed to reduce the nuclear energy ratio to 23.9 percent and the number of operational reactors to 18 by the end of the decade.

According to the Ministry of Trade, Industry, and Energy, Yoon also plans to export 10 nuclear reactors by 2030 and invest 400 billion won ($308 million) in the construction of small modular reactors (SMR).

The plan also called for the hydrogen industry to be nurtured by securing homegrown essential technology for sophisticated materials and parts. The strategy was approved earlier in the day during a Cabinet meeting presided over by President Yoon.

The ministry said the government will release a thorough strategy on the optimal balance of renewable energy resources by the end of this year in order to attain carbon neutrality. South Korea has vowed to cut greenhouse gas emissions by 40% from 2018 levels by 2030, with the goal of reaching carbon neutrality by 2050.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic