Exports of nuclear reactor technology
This focus on nuclear energy has also put South Korea among the top ten global exporters of nuclear reactors and related parts. The export value of nuclear reactors from South Korea increased more than eightfold within a year, with its net trade value for reactors having reached more than 176 million U.S. dollars in 2020. Regarding the trade value of disaggregated nuclear reactors, non-irradiated fuel elements grew significantly – by over nine thousand percent – and machinery also rose by 1,700 percent in the past couple of years.Outlook on South Korea’s energy production
The country’s dependency on nuclear energy is not likely to wane any time soon, with it making up more than 60 percent of total domestic energy production. The previous government, led by Moon Jae-in, had declared a nuclear phase-out policy for safety concerns, and plans to further reduce the number of nuclear power plant units to 14 by 2038 were put in place. With this background, power generated from nuclear energy had fallen from 2015 levels. However, with renewable energy only comprising a small fraction of power generation, there seems to currently be no better alternative for clean and reliable domestic energy sources outside of nuclear reactors. Having realized this amidst mounting global pressure from the climate crisis, the following Yoon Suk-yeol presidency has expressed its support for the role of nuclear energy in reaching the country’s emissions reduction goals.
