SEOUL: South Korea plans to increase the contribution of nuclear power in the state’s energy mix in order to 30 per cent or more by 2030 through 27 per cent in 2021, the industry ministry said on Wednesday (Jul 5), pledging to resume stalled construction work on two reactors.
South Korea’s new president, Yoon Suk-yeol, has rejected the idea of phasing out nuclear energy and managed to get a key pledge of his campaign to improve investment in the industry plus revive its status like a key exporter of safe reactors.
The U-turn in Asia’s fourth-largest economic climate towards a pro-nuclear energy policy uses Yoon won the particular March presidential political election by the smallest perimeter in South Korea’s democratic history.
The previous Seoul management sought to reduce the role of nuclear power in the wake of Japan’s Fukushima disaster in 2011, which usually triggered a global recession in the nuclear strength industry.
The ministry said on Tuesday South Korea will resume design work on two new reactors, Shin Hanul 3 and four, and extend the particular operations of current reactors.
Whilst boosting the role of nuclear power, the country plans to reduce its reliance upon fossil fuel imports from 81. 8 per cent in 2021 to around 60 percent by 2030, the ministry said.
“As the global carbon neutrality trend proceeds and global energy supply chain instability increases due to the Russia-Ukraine crisis and other aspects, the role of one’s policy in attaining energy security and carbon neutrality targets is more important than ever, ” it said in a statement.
Meanwhile, the ministry will also revisit the prior administration’s renewable energy objectives, and decide on brand new targeted portions meant for solar and blowing wind power.
Renewable energy’s share in the country’s energy mix will be “realistically adjusted to below thirty per cent” by 2030, an industry ministry official told Reuters, compared with 6. a few per cent last year, and the previous administration’s lofty 2050 projection of 60. 9 in order to 70. 8 per cent. He declined to be identified as he was not authorised to speak to media.
Coal is going to be “reasonably” reduced, whilst keeping supply-and-demand conditions in consideration, the particular ministry added.
South Korea may be the world’s fourth-largest essential oil importer after Tiongkok, India and The japanese, according to state-run Korea National Oil Corp (KNOC), while its state-run Korea Gasoline Corp (KOGAS) could be the world’s largest one corporate buyer associated with liquefied natural gas (LNG), according to a KOGAS spokesperson.
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