Minister Kim Jeong-gwan of the Ministry of Trade, Industry and Energy said plans to build two new nuclear reactors and one small modular reactor (SMR) should proceed as scheduled. He said the 11th Basic Plan for Long-term Electricity Supply and Demand, finalized in February, must be implemented without wavering.
At his first press briefing since taking office on the 16th, the Minister said, "Considering electricity demand and the energy mix in 2035, the conclusion will be that nuclear power is necessary," adding, "From the perspectives of electricity rates and a stable power supply, nuclear power is absolutely necessary."
This stance directly clashes with recent remarks by Climate, Energy and Environment Minister Kim Seong-hwan, who said the country should revisit whether to build new reactors through public deliberation. President Lee Jae-myung also signaled a negative view of new construction at a recent press briefing, saying, "It takes 15 years for a nuclear plant to reach actual operation, and there is no available site," suggesting debate over nuclear policy within the government will ramp up.
Amid this trend, the energy and industrial circles are increasingly concerned that delays in building new reactors could sharply drive up power generation expense. According to the Korea Energy Economics Institute (KEEI), solar power is 1.7 times and offshore wind is 2.6 times more expensive than nuclear, which could weaken manufacturing competitiveness.
In this situation, the Minister also expressed regret over the transfer of the energy institutional sector to the Climate, Energy and Environment Ministry. He said, "As someone who has worked in the energy field, it is unfortunate, but I accept it because it is a government decision." He added, "I believe industry and energy must move organically, and I hope the energy institutional sector will lead the Environment Ministry," noting, "Personally, I would like to call it 'the Ministry of Energy.'"
The Minister also stated his position on separating nuclear export policy from domestic nuclear policy. He said, "For nuclear exports, I believe it is reasonable for the Ministry of Trade, Industry and Energy, which has strong ties to trade and corporations, to take charge," adding, "There were concerns about side effects from the time the energy institutional sector was transferred, but this is a task we must overcome wisely."
Meanwhile, regarding the fact-finding probe into the contract between Westinghouse and Korea Hydro & Nuclear Power, he said, "We are reviewing both sides' positions while examining whether laws, regulations, and procedures were followed during the negotiations." On the contract, he said, "If we have to pay $1 billion as a technology fee, the issue is whether we will forgo challenges in markets worth more than $10 billion and stay only with domestic projects, or whether we will enter the global market—even if we bear the expense—to boost the vitality of domestic corporations," adding, "The task ahead is to find a balance between Westinghouse and Team Korea."