South Korea plans to increase the contribution of nuclear power to the country’s electricity source mix from 27.4% in 2021 to 30% or more by 2030, the industry ministry said on Tuesday.
South Korea’s new president, Eun Suk-yol, has rejected the idea of phasing out nuclear power, and has called for it to boost investment in the industry and revive its position as a major exporter of safe reactors. A major pledge of the campaign has been taken.
The U-turn towards a pro-nuclear energy policy in Asia’s fourth-largest economy came after Yoon won the March presidential election by the smallest margin in South Korea’s democratic history.
The ministry said that while promoting the role of nuclear power, the country plans to reduce its dependence on fossil fuel imports from 81.8% in 2021 to around 60% by 2030.
“As the global carbon neutrality trend continues and the global energy supply chain instability increases due to Russia-Ukraine crisis and other factors, the role of energy policy in achieving energy security and carbon neutrality goals is more important than ever,” it said in a statement.