On the 27th morning, shares of nuclear power-related stocks were all strong. The move followed the government's decision to proceed as originally planned with the construction of two new nuclear power plants that it had declared would be fully reviewed.
As of 9:14 a.m. on the 27th, KEPCO E&C was trading at 151,500 won on the main board, up 17,400 won (12.98%) from the previous day.
Domestic nuclear power stocks grouped together, including Doosan Enerbility (2.18%), BHI (8.52%), and Seojeon Electric Machinery (17%), were also on the rise.
Earlier, Minister Kim Seong-hwan of the Ministry of Climate, Energy and Environment said at a briefing held the previous day at the Government Sejong Complex, "We will proceed as scheduled with the plan to build new nuclear power plants included in the 11th Basic Plan on Electricity Supply and Demand (Electricity Plan)."
The ministry explained that Korea Hydro & Nuclear Power Co. (KHNP) will start soliciting sites, obtain construction permits in the early 2030s, and proceed with procedures with the goal of completing the plants in 2037 and 2038.
This follows an overwhelming pro-nuclear response in a nationwide public opinion survey recently conducted by the ministry through a polling institute, and it is seen as the Minister Kim accepting the results and stepping back from the previous stance.
Hana Securities said in a report that day, "The two new large nuclear power plants will each begin operation in 2037 and 2038," adding, "There is a possibility that more nuclear plants will be added in the forthcoming 12th Electricity Plan, so expectations for new nuclear plants remain valid."