Korea Hydro & Nuclear Power Co. held a ceremony to dedicate units 1&2 of the Shin Hanul Nuclear Power Plant and launch a project to build Shin Hanul Units 3&4 at the Hanul Nuclear Power Complex in Uljin, Gyeongsangbuk-do, on Oct. 30.
Shin Hanul Units 1&2, which were put into commercial operation, are capable of producing 20 million MWh of electricity annually.
The annual production capacity, equivalent to about 10 percent of the power demand of the Seoul metropolitan area, is expected to contribute to stabilizing he country’s power supply.
Shin Hanul Units 1&2, each adopting the latest Korean-made reactor APR1400, is evaluated to be high in terms of safety and economical benefits.
The Presidential Office said Shin Hanul Units 1&2 are the world’s top nuclear facilities that can supply top-quality electricity in a safe fashion.
They are capable of producing half the electricity Gyeongsangbuk-do uses annually.
The dedication of the nuclear power units brings to eight the number of nuclear power units at the Hanul Nuclear Power Complex, becoming the nation’s biggest nuclear power complex.
The launch of the Shin Hanul Nuclear Units 3&4 project is expected to accelerate efforts to revive the nuclear power industry.
In his speech, President Yoon Suk-yeol said, “The global nuclear power market whose value is estimated at 1,000 trillion won is opening up on the occasion of the emergence of the nuclear power renaissance.”
“The 2050 mid- and long-term nuclear power roadmap will be established so the future of the nuclear power industry will not collapse due to politics,” President Yoon said.
He called for political circles to enact a special act on the supporting of the nuclear power industry and high-level radioactive waste.
Shin Hanul Units 1&2 are the first nuclear power facilities that have been dedicated under the current President Yoon government. Shin Hanul Units 1&2 are the first whose project has been launched under the current government.
“Permits and approval licenses have been granted in 11 months faster than the usual 30-month period, and orders on Shin Hanul Units 3&4, valued at more than 1 trillion won, have been issued in the first half of this year, and if construction is in a full swing, it is expected to greatly contribute to reinvigorating the provincial government,” President Yoon said.
Shin Hanul Units 3&4 are expected to have a positive effect on the Korean nuclear power industry.
It will bring about expanded nuclear power infrastructure and the restoration of the ecosystem of the nuclear power industry, caused by changes of government energy policies, and sustainable economic benefits.
President Yoon revealed his willingness to reverse the previous government’s nuclear power phase-out policy.
“A government policy of dismantling nuclear power units after the passage of design lifespan that is initially permitted will not allow the examination of continued operation of NPPs, so a combined 5 units are destined to be stopped in two years from now and losses are expected to be astronomical,” President Yoon said.
He called for institutional reform for prolonging of the existing nuclear power units in a safe fashion.
Among those on hand at the ceremony were President Yoon, Minster Ahn Duk-geun of the Ministry of Trade, Industry and Energy, Chairperson Yoo Guk-hee of the Nuclear Safety and Security Commission, Korea Electric Power Corp., President Kim Dong-cheol, KHNP President Hwang Joo-ho, Sohn Byung-bok, head of Uljin Country, Chairperson Lee Chul-gyu of the National Assembly Trade, Industry, Energy, SMEs and Startups Committee, and Chairman Park Ji-won of Doosan Enerbility.
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