SEOUL, May 12 (Korea Bizwire) — For the first time in nearly two decades, nuclear power has surpassed coal to become South Korea’s largest source of electricity, signaling a broader shift in the country’s energy landscape toward cleaner and more sustainable sources. According to the Ministry of Trade, Industry and Energy’s newly released 2024 Energy Supply [...]
SEOUL, Jan. 18 (Korea Bizwire) — In a significant strategic shift, Korea Hydro & Nuclear Power (KHNP), Korea Electric Power Corporation (KEPCO), and U.S.-based Westinghouse Electric Company have agreed to set aside ongoing intellectual property disputes and jointly pursue global nuclear power projects under the newly formed “Team KORUS” alliance. Though the specific terms of the [...]
SEOUL, Jan. 10 (Korea Bizwire) — South Korea’s exports in the nuclear energy sector reached a record high of 32 trillion won (US$21.9 billion) in 2023, data showed Friday. The figure represents a 26 percent increase from the 25.4 trillion won recorded in 2022, according to the Ministry of Trade, Industry and Energy. The Korea [...]
SEOUL, Dec. 16 (Korea Bizwire) – President Yoon Suk Yeol’s ambitious industrial agenda, including a focus on nuclear energy, offshore gas development, and semiconductor industry support, faces potential setbacks following his impeachment by the National Assembly on December 14. Industry experts warn that any weakening of government semiconductor support could cause South Korea to miss a crucial [...]
SEOUL, Jul. 18 (Korea Bizwire) — South Korean Industry Minister Ahn Duk-geun said Thursday that the country’s recent winning of a nuclear power project in the Czech Republic will pave the way for its active advance into the broader European nuclear energy market. On Wednesday, the state-run Korea Hydro & Nuclear Power (KHNP) was selected [...]
SEOUL, May 31 (Korea Bizwire) — South Korea plans to build up to three new nuclear reactors by 2038 in line with efforts to cut carbon emissions and meet the growing electricity demand, officials said Friday. The plan, which will run from 2024 to 2038, comes under the biennial energy blueprint submitted by a group [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea will raise its dependence on nuclear energy sources to over 30 percent while sharply reducing its reliance on coal by 2036, the energy ministry said Thursday, as the country accelerates its push to reach carbon neutrality. Under the plan, the government will raise the proportion of nuclear [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea seeks to expand its generation of nuclear power to nearly 33 percent of its total energy creation by 2030 in a move to boost energy security and to better meet net-zero goals, the industry ministry said Tuesday. Under the blueprint for the country’s electricity supply through 2036, [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea on Thursday launched a committee to help local companies win contracts to build nuclear power plants overseas amid renewed interest in nuclear power in Europe due to energy shortages. The move came as the government is pushing to rebuild the nuclear industry in a reversal of the [...]
SEOUL, July 12 (Korea Bizwire) — The industry ministry vowed Tuesday to provide companies in the nuclear power industry with work worth 130 billion won (US$99.04 million) this year in an effort to rebuild the sector and expand nuclear power generation. The work to be provided this year will be meant to improve related facilities [...]