Korea Hydro and Nuclear Power Co. (KHNP) President Cho Suk and Uljin County Chief Lim Kwang-won sign a deal on the implementation of seven projects in return for the construction of Shin Hanul Nuclear Power Units 3 and 4, to be built in Uljin-gun, Gyeongsangbuk-do, as Prime Minister Chung Hong-won and Minister of Trade, Industry and Energy Yoon Sang-jick look on.

The government has officially announced that a project to build two nuclear power units in Yeongdeok, Gyeongsangbuk-do, will go ahead at full speed as planned. It has promised inter-ministry support, including 1.5 trillion won in support subsidies for the construction of the nuclear power units.

The government also struck a deal after concluding negations on the construction of nuclear power units in Uljin, which had been at a stalemate for 15 years. In this regard, Korea Hydro and Nuclear Power Co. (KHNP) decided to provide 289 billion won for the implementation of social overhead capital projects in Uljin.

It was in September 2012 that Yeongdeok County was designated as a planned nuclear power unit area by the government, but a plan to build nuclear power units had been been going nowhere until recently, touching off a flood of complaints.

Prime Minister Chung Hong-won toured the Yeongdeok County Office to met residents and hold a meeting on Nov. 21. He disclosed that the plan to build two nuclear power units there will be reflected in the 7th national power supply master plan. Prime Minister Chung also said, “The government does not spare efforts to provide its support as much as possible to make Yeongdeok’s attraction of the nuclear power site spur its regional development.”

Samcheok City, which has been designated as a planned nuclear power site together with Yeongdeok, forced a “vote of confidence” over the construction of nuclear power units, with a majority voting against it. Concern over Yeongdeok’s move had been mounting.

An official of the Ministry of Trade, Industry and Energy (MOTIE) said, “In accordance with law, 26 billion won is to be provided to the nuclear power unit site each year. And in the case the support is offered for 60 years, it will climb to 1.5 trillion won.” 

The support money will be used for the implementation of projects in the area, and it will be executed starting next year, he added. MOTIE, the ministry charged with nuclear power projects, decided to advance its payment of 38.9 billion won for the local government in return for attracting the nuclear power unit as part of efforts to reinvigorate the regional economy of the county area. KHNP also decided to launch projects to contribute to the development of the area, including an agricultural machine rental business and the purchasing of power generated by photovoltaic power units. 

Among regional development projects worth a combined 1.5 trillion won, the government will finance the construction of new ports in Ganggu and the establishment of a city gas supply network.