With the launch of the Lee Jae-myung government, which is negative toward nuclear power plants, there are concerns in the nuclear industry that budgets and support may be reduced. However, there are also forecasts that a more nuclear-friendly stance compared to the Moon Jae-in government will prevent a return to past nuclear phase-out policies.
President Lee Jae-myung showed a cautious stance on nuclear power expansion during the presidential election process. In a presidential candidate TV debate held on the 23rd of last month, he noted, “Nuclear power can be an incredibly expensive energy when considering the costs of waste disposal and risk. Although the risk of accidents is low, if an accident occurs, it can cause tremendous damage.”
Regarding the expansion of nuclear power, he stated, “The idea that nuclear power is dangerous energy remains. The thought is to continue to use the already constructed nuclear plants.” He also expressed a negative stance toward additional nuclear power construction by saying, “I want to ask where we could possibly build more nuclear plants.”
While nuclear power expansion should be approached cautiously, the assessment is that President Lee’s stance is more friendly compared to the Moon Jae-in government, as he intends to continue using already constructed nuclear plants. The Moon Jae-in government had halted the construction of ongoing nuclear plants and even closed some that still had remaining lifespans.
President Lee expressed a stronger intent to support renewable energy than nuclear power. The policy pledges of the Lee Jae-myung government include the construction of energy highways, the establishment of an "intelligent power grid" connecting renewable energy production sites and large industrial areas, support for carbon-neutral industry overseas expansion, and the expansion of solar and wind pensions. The establishment of a Climate Energy Department has also been announced, interpreted as a decision to promote renewable energy for carbon neutrality.
The nuclear industry believes that if the policy of 'maintaining existing nuclear power plants and strengthening support for renewable energy' is reflected in government policies, the nuclear industry is likely to face contraction. This is because in a situation where government budgets are limited, an increase in the share of renewable energy will inevitably reduce support for nuclear power.
An official in the nuclear industry stated, “A significant portion of the budget allocated to nuclear power is expected to go toward maintaining and extending the lifespan of existing nuclear plants, as well as waste disposal,” and noted, “If support for nuclear technology development (R&D) decreases, the technological competitiveness of the 'K nuclear power' that has been recognized globally could decline.”
Concerns are also rising that the momentum for nuclear power exports could weaken. Korea has secured a new nuclear power plant contract in the Czech Republic valued at 24 trillion won, and is also promoting nuclear power exports to other countries like Kazakhstan. The nuclear industry argues that it is difficult to build trust with those nations while the government shows a cautious stance toward expanding nuclear power.
An industry official stated, “Several advanced countries, including the United States, are expanding the share of nuclear power in preparation for the electricity-intensive artificial intelligence (AI) industry,” adding, “If Korea fails to build a large-scale power supply infrastructure, it could miss the ‘golden time’ to respond to the AI era.”