The construction project for Shin Hanul Nuclear Power Plant Units 3 and 4, which had been suspended for seven years due to the previous government’s nuclear phase-out policy, has resumed in earnest. The construction of a new nuclear power plant in Korea for the first time in 8 years and 4 months is expected to create jobs for approximately 7.2 million people and have an expected effect on the local economy exceeding 2 trillion won. Following the order for a new nuclear power plant in the Czech Republic, a series of ‘warm winds’ are blowing in the domestic nuclear power plant industry, and the ‘restoration of the domestic nuclear power plant ecosystem’ promoted by the government appears to be accelerating.
●New nuclear power plant after 8 years and 4 months, a signal for ecosystem recovery
President Yoon Seok-yeol attended the ‘Shin Hanul Nuclear Power Plant Units 1 and 2 and Groundbreaking Ceremony for Units 3 and 4’ held at the Shin Hanul Nuclear Power Plant site in Uljin-gun, Gyeongsangbuk-do on the 30th and said, “We will further accelerate the complete normalization of the nuclear power plant ecosystem.” In December 2021, when he was a presidential candidate, President Yoon visited the Shin Hanul Nuclear Power Plant construction site and declared the abolition of the Moon Jae-in administration’s nuclear phase-out policy. Shinhanul Units 1 and 2 are the first nuclear power plants to be comprehensively completed under the current administration, and Units 3 and 4 are the first nuclear power plants to begin construction.
In particular, the construction of Shin-Hanul Units 3 and 4 is considered a signal for the ‘restoration of the domestic nuclear power plant ecosystem’ promoted by the current government. In October 2017, 1 year and 9 months after Korea Hydro & Nuclear Power applied for a construction permit in January 2016, the project was halted when the Moon Jae-in administration approved the ‘Energy Transition Roadmap’ through a cabinet meeting, but restarted under the Yoon Seok-yeol administration. This is because construction began after a year.
It has been 8 years and 4 months since construction of a new nuclear power plant in Korea began in June 2016 on Saeul Units 3 and 4 (then Shin-Kori Units 5 and 6). President Yoon said, “In addition to the construction of Shin-Hanul Units 3 and 4, the ongoing construction of Saeul Units 3 and 4, continued operation of existing nuclear power plants, winning orders for overseas nuclear power plants, and promoting the construction of new nuclear power plants such as SMR (small modular reactors) will strengthen the nuclear power industry.” “We will provide sufficient work,” he said. “We will prepare a ‘2050 mid- to long-term nuclear power plant roadmap’ to ensure that the future of the nuclear power industry does not collapse due to politics.”
●7.2 million jobs created, regional economic impact worth more than KRW 2 trillion
Total project cost: 11.7 trillion won, approximately 1,600 participating companies. The construction of Shin Hanul Units 3 and 4 is expected to provide a breath of fresh air to the domestic nuclear power industry, which was on the verge of collapse, by continuously supplying work for more than 10 years. In fact, the work related to Shin Hanul Units 3 and 4 was only 97 billion won from 2016 to 2022, but the atmosphere has changed 180 degrees since the Yoon Seok-yeol government formalized the resumption of construction. Last year, the amount of work soared to 479 billion won, and this year, the amount of work supplied as of August alone was 473.8 billion won.
Even while construction is in progress, large-scale work will be supplied to the domestic nuclear power plant ecosystem. Doosan Energy will sign contracts with partner companies during the construction of main equipment worth approximately 2.9 trillion won. Contracts for auxiliary equipment such as pumps and piping worth approximately 2 trillion won are also scheduled to be ordered sequentially until completion.
The nuclear power industry expects that Shin Hanul Units 3 and 4 will create more than 7.2 million jobs. The employment creation effect of the Saeul Units 3 and 4 construction project, which is similar in scale to Shin Hanul Units 3 and 4 and is already 99% completed, is approximately 7.22 million people.
It is expected to play a significant role in revitalizing the economy of Uljin-gun, Gyeongsangbuk-do, where the nuclear power plant will be built. It is expected that Korea Hydro & Nuclear Power will pay 2.3 trillion won in statutory subsidies to Uljin-gun and Gyeongbuk-do during the period from the construction of the nuclear power plant to its operation (based on 60 years). Uljin-gun’s annual budget this year is approximately 620 billion won.
The CEO of a small and medium-sized company that supplied nuclear power plant auxiliary equipment to Saeul Units 3 and 4 said, “With the good news coming one after another in the nuclear power industry, from the new Czech nuclear power plant order to the start of construction of Shin Hanul Units 3 and 4, it feels like we are finally coming out of a dark period.” “New sales related to nuclear power plants have converged to ‘0 won,’ and we expect new work to come in with the construction of Shin Hanul Units 3 and 4,” he said.
Sejong = Reporter Soon-gu Jeong [email protected]
-
- great
- 0dog
-
- I’m sad
- 0dog
-
- I’m angry
- 0dog
-
- I recommend it
- dog
Hot news now
Nt” data-ep_button_name=”화나요” data-ep_button_area=”기사콘텐츠 감정표현” data-ep_button_category=”기사뷰” data-id=”angry” data-label=”화나요” aria-label=”화나요” onclick=”_spinTopEmotion(spinTopParams, ‘ref6’);”/>
- I’m angry
- 0dog
- I’m surprised
- 0dog
Comments
User1: This is exciting news for the nuclear industry!
User2: I’m concerned about the safety measures in place.