The government will officially consider adding new nuclear power plants and small modular reactors (SMRs).
Kim Seong-hwan, Minister of the Ministry of Climate, Energy and Environment, said on the 13th at the National Fiscal Strategy Meeting chaired by President Lee Jae-myung, "To respond to the surge in power demand and stabilize baseload power, we will decide whether to introduce new nuclear plants and SMRs after gathering expert opinions and holding a public debate, and reflect the decision in the 12th Basic Plan for Long-term Electricity Supply and Demand."
Until now, the possibility of additional construction beyond the two large nuclear plants and one SMR included in the 11th basic electricity plan had been mentioned unofficially, but the government announced an official review policy on this day.
Minister Kim said that power demand set to increase definitively at the Yongin and Honam semiconductor industrial complexes and at artificial intelligence data centers (AIDCs) alone amounts to 30 GW. Factoring in electrification of transport and heating, more than 50 GW of additional power may be needed by 2040.
Kim also said the government will expand renewable energy capacity to 100 GW by 2030 and push a "personal sunlight income" program that settles surplus household solar power in cash. The plan is to make 87 islands, including Ulleungdo, Baengnyeongdo and Chujado, 100% renewable energy islands by 2030.
Measures to expand electric vehicle adoption were also presented. To resolve the reluctance to choose relatively expensive EVs due to the annual limit on expense handling for corporate vehicle purchases, the government is considering differentiating the limit. It will also review providing subsidies when commercial internal combustion engine vehicles such as taxis and buses are replaced with EVs.
Meanwhile, the meeting also discussed water supply measures for the semiconductor megaproject. The ministry said that by 2034 an additional 2 million tons of water per day will be needed at the Yongin and Honam industrial complexes, and by 2040 an additional 1 million tons per day will be needed for AIDCs and other sites.
Accordingly, the purposes of dams—previously divided into power generation, flood control, agricultural use and pumped-storage power—will be integrated, and all dams will be operated for multiple purposes. The government will secure new water sources such as raising the Gwangju Dongbok Dam, and expand wastewater reuse and seawater desalination.