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Pragmatic market-oriented energy policy: A test for President Lee

Published: 09 Jun. 2025, 00:02

Cheong Chul-gun

The author is a columnist of JoongAng Ilbo.

“Following our success with next-generation nuclear reactors, we now hope to fully participate in the market for advanced nuclear power systems.”

This was the message that former President Kim Dae-jung sent on May 16, 2002, to Jeong Dong-wook, then head of the Korean Nuclear Society. Jeong, who earned a Ph.D. from MIT, was one of the key developers behind the APR1400 reactor. Kim commended the reactor as a next-generation model that had achieved a new level of safety and economic efficiency. He credited Jeong and others in the nuclear community for their strong sense of mission.

The Dukovany Nuclear Power Station in the Czech Republic, where Korea Hydro & Nuclear Power won an $18 billion deal to build two nuclear reactors. [EPA/YONHAP]

The APR1400 is a Korean-designed reactor that can withstand magnitude 7 earthquakes and features significantly improved safety. Its development began under the Roh Tae-woo administration and was completed during Kim’s presidency. Eight units are now in operation domestically, including the Shin Hanul 1 to 4 reactors. It also became Korea’s first nuclear export, receiving favorable reviews abroad. The Barakah plant in the UAE, constructed by Korea, is featured on the back of the UAE’s 1,000-dirham banknote. The Dukovany project in the Czech Republic, for which Korea signed a final contract on June 4, uses an upgraded version of the APR1400 — and was finalized on the very day of President Lee Jae-myung’s inauguration.

This photo, provided by the Korea Electric Power Corporation, shows the Barakah nuclear power plant in the United Arab Emirates. [KOREA ELECTRIC POWER CORP.]

Liberal-leaning presidents Kim Dae-jung and Roh Moo-hyun were both proactive in nuclear development. Two reactors were approved during Kim’s term, and four more under Roh. However, Korea’s nuclear industry came to a halt under the Moon Jae-in administration, which pursued a phaseout policy. According to the Nuclear Policy Center at Seoul National University, the cost of Moon’s nuclear exit — including cancellations of new plants, halted construction and the early closure of Wolseong-1 — will reach 47.4 trillion won ($35 billion) by 2030.

In 2010, U.S. President Barack Obama declared a return to nuclear power, ending a 30-year freeze following the 1979 Three Mile Island accident. More recently, in July 2024 — just four months ahead of the U.S. presidential election — President Joe Biden signed the ADVANCE Act, designed to accelerate the deployment of advanced nuclear technologies. The bill passed with overwhelming bipartisan support in Congress.

The Lee Jae-myung administration pledged an energy policy centered on renewables such as solar and wind. While it has not explicitly called for a nuclear phaseout, it continues to show a cautious attitude toward nuclear power, citing safety concerns. However, even within the Democratic Party, calls are growing for a rational energy mix that integrates both nuclear and renewable sources. At a meeting with nuclear industry workers on April 15, Rep. Lee Eun-ju remarked that Korea must move past the ideological divide between “right-wing” and “left-wing” energy. She called for discussions grounded in science, pragmatism, economics and national security.

In his inaugural address, President Lee declared that his administration would be a pragmatic, market-oriented government. He also said, “We will use policies from Park Chung Hee or Kim Dae-jung alike, if they are needed and useful.”

President Lee Jae-myung, elected as Korea’s 21st president, takes the oath of office at the Rotunda Hall of the National Assembly in Yeouido, Seoul, on the morning of June 4. [LIM HYUN-DONG]

Lee’s vote share of 49.42 percent was higher than that of former presidents Kim Dae-jung (40.27 percent) and Roh Moo-hyun (48.91 percent). His party also holds a commanding majority in the National Assembly. Since Korea’s democratization in 1987, no president has entered office with this level of political power. This makes it all the more important for long-term policy issues — such as energy, education, science and technology, and industrial development — not to be swayed by temporary trends or partisan agendas.

Such policies must be based on scientific and economic evidence and built through transparent and thorough public debate. Decisions should be made with an eye on global trends and the future national interest. Even if proposals come from opposition parties, they should be accepted when reasonable. That is how President Lee can be remembered as a unifying and pragmatic leader.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.