The South Korean government has announced that it will construct Shin Hanul Nuclear Power Units 3 and 4 in Uljin, North Gyeongsang Province early and supply 130 billion won worth of nuclear power plant work within the year to restore the nuclear power plant ecosystem.
On July 12, President Yoon Seok-youl received a business report containing these details from the Ministry of Trade, Industry and Energy at the Presidential Office in Yongsan, Seoul.
In the report, the Ministry of Trade, Industry and Energy decided to discover an additional 40 billion won worth of nuclear power plants, following the 92.5 billion won announced in the nuclear power plant industry partner support measures last month.
Accordingly, the government plans to supply 130 billion won worth of work this year, including spare parts for all nuclear power plants, facility improvement, and design of Shin Hanul Units 3 and 4, and through this, the proportion of nuclear power plants will increase to 30% by 2030.
In addition, the Ministry of Trade, Industry and Energy is planning to start construction in earnest from 2024 by starting a working procedure with the Ministry of Environment to immediately start an environmental impact assessment for the early construction of Shin Hanul Units 3 and 4.
KHNP will complete the main contract for the construction of Shin Hanul Units 3 and 4 by July next year, and pre-production work will start early next year. Procedures necessary for the continued operation of existing nuclear power plants will also be expedited.
The government will expand financial support and R&D related to the nuclear power plant industry to more than 1 trillion won within this year. It has decided to supply 1 trillion won or more of work in advance by 2025. In addition, with the goal of exporting 10 nuclear power plants by 2030, the company plans to concentrate its ability to win orders mainly from the Czech Republic and Poland.
