Four new nuclear power plants to be built

By 2038, plans are in place for constructing up to three new large-scale nuclear power plants and installing one small modular reactor (SMR), alongside four additional new nuclear power plants. This expansion will significantly bolster the proportion of carbon-free energy, nearly doubling the contribution from nuclear power and new renewable energy sources.

On Friday, the Ministry of Trade, Industry, and Energy revealed the operational blueprint for the '11th Basic Electricity Supply and Demand Plan (Basic Electricity Plan)' at the Federation of Korean Industries (FKI) Tower in Seoul. This comprehensive electric power plan is formulated every two years and spans a 15-year mid- to long-term horizon. It encompasses electricity demand forecasts and outlines strategies for power plant supply to meet the projected needs.

The 'Electricity Supply and Demand Plan General Committee' that crafted the working plan has recommended the government to construct three additional nuclear power plants, each with a power generation capacity of 1.4GW (gigawatts) by 2038. Additionally, the plan entails the establishment of a new SMR with a capacity of 0.7 GW, currently in the developmental phase. This marks the first instance of new nuclear power plant construction planning in the electric power sector in nine years since the inclusion of plans for Shin-Hanul Units 3 and 4 in the 7th electric power plant plan of 2015.

The proportion of 'carbon-free energy' (CFE), encompassing nuclear power plants and new and renewable energy sources, is slated to rise from 39.1% last year to 70.2% by 2038. "This year, the Basic Electricity Plan has laid out a vision for achieving 70% carbon-free energy, focusing on a well-rounded expansion of both nuclear power and renewable energy, which are the cornerstone elements of carbon-free power generation," said Professor Jeong Dong-wook of Chung-Ang University, who chaired the Electricity Center's general committee.


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