Yoon outlines plan to make North Gyeongsang a hub for small modular reactors

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Yoon outlines plan to make North Gyeongsang a hub for small modular reactors

Published: 20 Jun. 2024, 17:56

SEO JI-EUN
seo.jieun1@joongang.co.kr

President Yoon Suk Yeol speaks during the 26th people's livelihood debate meeting held on Thursday at Yeungnam University's Gyeongsan Campus in North Gyeongsang. [YONHAP]

President Yoon Suk Yeol announced plans to transform North Gyeongsang into a hub for small modular reactors (SMRs) and clean hydrogen.

Speaking at the 26th people's livelihood debate meeting, held on Thursday at Yeungnam University's Gyeongsan Campus, Yoon outlined a comprehensive strategy tailored for the area to enhance regional infrastructure.

"Industrial structural innovation is crucial for North Gyeongsang's new leap forward," Yoon said.

"North Gyeongsang led the country’s export-driven economy in the past through the steel and textile industries," Yoon continued. "Now, it is exploring and promoting new growth engines like hydrogen and bioindustries. The government will firmly support the region’s industrial innovation."

Yoon revealed an 800 billion won ($576.9 million) investment to establish a hydrogen economy industrial belt along the East Coast, aiming to position the region as a central player in the hydrogen industry.

"A hydrogen fuel cell cluster is taking shape within the Pohang Blue Valley National Industrial Complex, with over 30 companies working on domestic hydrogen fuel cell production," Yoon said. He also highlighted plans to accelerate the development of the Nuclear Hydrogen National Industrial Complex in Uljin for clean hydrogen production.

To boost the SMR sector, Yoon announced the creation of an 80 billion won nuclear industry growth fund by next year.

"The government will actively support North Gyeongsang in enhancing its SMR manufacturing capabilities to become a global hub, focusing on technology development and prototype production," he said.

Yoon also addressed the need to significantly improve the region’s transportation infrastructure.

"Expanding transportation infrastructure is essential for North Gyeongsang's rise as a manufacturing innovation hub and for improving residents' quality of life," he said.

The president committed to fast-tracking the construction of the 3.4 trillion won Yeongil Bay cross-sea highway and accelerating the Seongju-Daegu highway project to ensure better connectivity within a two-hour living radius.

The forum, the first regional event following the April 10 general election, was attended by over 100 individuals, including entrepreneurs and startup leaders in the nuclear and hydrogen energy sectors, as well as government officials.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]