South Korea To Phase Out All Coal & Nuclear Power

Kori nuclear power plant

Decommissioning the plant was decided in 2015 and Moon, who promoted a nuclear-free energy future for Korea during his campaign, attended the ceremony to commemorate the event.

South Korea's nuclear power could dwindle rapidly in the years ahead if steps are taken to implement recently elected President Moon Jae-in's call to dismantle older nuclear reactors. It was also in the running to build the first small modular reactor. The commission and Korea Hydro and Nuclear Power immediately appealed. President Moon pledged that his administration will proactively cultivate green and sustainable energy like solar and offshore wind power, and establish an energy ecosystem suitable for the fourth industrial revolution. He also hopes to "reach an early social consensus" regarding the future of the Shin Kori No. 5 and No. 6 reactors, which are now under construction.

President Moon has said he wants to increase the portion of renewable energy to 20% by 2030 and increase LNG imports, possibly through a Russian pipeline passing through North Korean territory.

Anchor: President Moon Jae-in has vowed to phase out nuclear power generation in South Korea. "We will obtain a social consensus as soon as possible, taking into account the safety, construction progress rate, costs and spending as well as reserve power rate", Moon said. "We will completely scrap construction plans for new nuclear reactors that are now under way". "I will shut down 10 aged coal plants during my presidency".

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He pledged to abandon the nuclear-centric electric power policy and open a post-nuclear era. He said the time has come for Korea to value the people's safety over cost efficiencies. The country is also searching for answers on how and where to permanently store spent nuclear fuel. Even if South Korea starts the phase-out now, it will take several decades until the currently operating fleet of reactors reach the end of their operation, Moon noted.

The KHNP will also seek a review of its plans by the International Atomic Energy Agency. Nuclear safety reemerged as a major issue for the public after the nuclear disaster in Fukushima, Japan in 2011, and the 5.8-magnitude quake that struck the Korean city of Gyeongju past year - an area not far from a number of nuclear plants.

With a tie-up with Argonne, the Busan municipality hopes it will share technologies to decommission nuclear reactors and give a boost to the nurturing of related industries.

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