Friday, May 17, 2024

SKorea announces 2.44 trln won plan to boost nuclear energy

SEOUL (XFN-ASIA) – South Korea has announced plans to spend 2.44 trln won over five years to build homegrown light-water nuclear reactors and develop fuel technology.

‘If this five-year plan succeeds, South Korea will have core technology for nuclear power and be allowed to export the technology,’ said Kim Young-Shik, director of the science ministry’s nuclear bureau.

South Korea is ranked sixth after the US, France, Japan, Russia and Germany in terms of the use of nuclear technology and safety, the ministry said.

The country operates 19 nuclear plants which generate about 40 pct of its electricity. It hopes to boost its reliance on nuclear energy to 60 pct by 2035.

(1 usd = 940.25 won)

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