A significant step toward a nuclear renaissance

Good news just came in for Korea’s nuclear industry after it was dealt a critical blow due to the Moon Jae-in administration’s nuclear phase-out policy. The Czech Republic on Wednesday chose Korea as the preferred negotiating partner for its plan to build two nuclear power plants in the country. The Czech government selected the “Team Korea consortium” — comprising of the Korea Hydro & Nuclear Power, Daewoo Engineering & Construction and Doosan Enerbility — as its partner. The construction project costs at least 24 trillion won ($17.4 billion).

The project, which could expand into building two more nuclear plants, is the largest one for Korea since its winning the bid for the 20-trillion-won construction of the Barakah Nuclear Energy Plant in the United Arab Emirates in 2009. The Czech project carries great significance as it means Korea had secured a foothold for K-reactors in Europe.

The achievement was possible thanks to the close cooperation between the industry and the government. Team Korea took the upper hand by stressing three strengths — top-caliber technology, strict observance of the construction period and price competitiveness. President Yoon Suk Yeol dispatched Trade, Industry and Energy Minister Ahn Duk-geun as a special emissary to the Czech Republic to deliver his personal letter to the president. After the bidding narrowed to a contest between Korea and France, the minister visited the Czech Republic three times. In the process, he reportedly experienced much difficulty dispelling the Czechs’ concerns about Korea’s possible return to the nuclear phase-out.

As the government plans to export 10 reactors by 2030, its policy to restore the nuclear habitat is expected to gain momentum. The surge in electricity demand in the era of AI forces many countries to return to emissions-free nuclear energy, as seen in the Netherlands, Poland, the United Kingdom and Turkey. If the current pace continues, nuclear reactors can emerge as the mainstay of Korea’s industry.

The government must first recover the devastated nuclear ecosystem. Only three students applied to the department of nuclear and quantum engineering at KAIST this year. The government must accelerate the passage of the Special Act on Disposing High-level Radioactive Waste. Given the need to convince the European Union of Korea’s ability to manage spent nuclear fuel, the government can have trouble exporting nuclear reactors if it can’t find sites to store it.

As the Czech project involves not only the construction of reactors, but also the design, operation and maintenance of the plants, it can provide jobs to Korea for more than 15 years. There is no time to waste fighting over the merits and demerits of nuclear energy.