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Minister Lee discusses measures to build competitive nuclear industry ecosystem 2023-05-17

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 15 that Korea’s nuclear power industry ecosystem has been fully normalized, as President Yoon Suk-yeol had promised during a conference with nuclear industry firms after taking office that utmost support will be given to restore the nuclear industry and to swiftly resume construction for Shin Hanul 3 and 4.

The Korean government is currently poised to assist the industry, not just to restore and normalize the nuclear industry ecosystem, but to achieve a “global super gap” competitiveness through the following efforts.

One, the KRW 2.9 trillion project of building the main equipment of Shin Hanul 3 and 4 begins May 15, and a two trillion won order is placed for producing auxiliary equipment beginning this month, which will serve as consistent and stable sources of backlog for the nuclear ecosystem.

Two, three core directions (“Future”, “Market” and “Convergence”) will be the central focus over the next five years in realizing technological innovation to secure the abovementioned super gap competitiveness throughout the entire life cycle of the nuclear power plant industry, into which approximately two trillion won will be invested for technology development.

Three, graduates with bachelor’s and master’s degrees will be trained to become quality workers, and manpower demand-supply policies will be pushed with a focus on SMEs and middle-market firms to replenish the manpower that leaked during the nuclear energy phase-out stages, with aim to train up a total of 4,500 specialized workers by 2030.

On May 15, Minister Lee Chang-yang attended the ceremony held to mark the commencement of main equipment production for Shin Hanul 3 and 4 and the subsequently held Nuclear Power Ecosystem Conference to review policy outcomes of the new administration’s first year since taking office, and proposed future directions for technological development and personnel training needed to establish a competitive nuclear power ecosystem.