Nuclear News | June 8, 2017

Photo Credit: Isaac Lee

Korea Will Lose Over 3.5 Bill. Dollars After Pullout From Nuclear Energy

“Construction of the No. 5 and No. 6 reactors of Shin Gori nuclear power plant will be halted for some time to review whether to continue the project through analysis of all of the related matters,” Kim Jin-pyo, head of the policy planning and advisory committee, said Thursday in a program briefing to the Ministry of Trade, Industry and Energy, the Korea Hydro & Nuclear Power and the Nuclear Safety and Security Commission. The construction project for two reactors started last year after the Nuclear Safety and Security Commission approved it. The project progress rate is currently 28 percent. It is quite an unprecedented event for a new administration to suspend construction of nuclear reactors after handover of the presidency. Korean President Moon Jae-in’s decision could have a significant impact to Korea’s energy policy framework in place.
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