Plans are Revived to Build Nuclear Power Plant in South Korea

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Researched by Industrial Info Resources (Sugar Land, Texas)--A movement in South Korea to re-promote the construction of units 1 and 2 of the Cheonji Nuclear Power Plant in Yeongdeok-gun, which had been canceled due to the previous Korean government's nuclear phase-out policy, is in full swing.

The government has begun to establish the 11th Basic Plan for Electricity Supply and Demand, a statutory plan for electricity supply and demand over 15 years from 2024 to 2038. While the basic framework for building new nuclear power plants has been confirmed to meet the rapidly increasing demand for electricity, attention is focused on where and how many nuclear power plants will be built.

The South Korean government plans to review in detail ways to reasonably expand power supply capacity, such as introducing new nuclear power plants.

The plan to build a new nuclear power plant, which had been suspended under the previous government, is likely to be revived. This marks the first time in nine years since the 7th Power Plan in 2015 that the construction of a new nuclear power plant has been promoted. The most likely project are the Yeongdeok Cheonji Nuclear Power Plant units 1 and 2. Subscribers to Industrial Info's Global Market Intelligence Power Project and Plant databases can click here for the project report and click here for the plant profile.

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