S.Korean President vows to scrap plans for n-reactors

S.Korean President vows to scrap plans for n-reactors

South Korea now runs 25 nuclear power plants, which generate about 30 percent of the country's power supply.

South Korea, one of the world's largest nuclear electricity producers, will scrap plans to add nuclear power plants and also not seek to extend the lifespan of existing plants as it seeks to phase out nuclear power, its new President Moon Jae-in said today. It was also in the running to build the first small modular reactor.

According to officials at the municipality, a delegation from Argonne plans to visit Busan in late July to sign the envisioned deal with the city, Pusan National University and Korea Hydro and Nuclear Power Corp., the operator of nuclear power supply facilities, after obtaining approval from the U.S. Energy Department.

As a part of a nuclear-energy-free road map, the Wolseong-1 reactor, which is still in operation after an extension of its lifespan, will be shut down as soon as possible, Moon said, taking into account the power supply situation.

Moon said he will soon reach a consensus on the Shin Kori No 5 and Shin Kori No 6 reactors after fully considering their construction costs, safety and the potential costs of paying compensation.

More news: Confed Cup: Portugal draw 2-2 with Mexico

President Moon has said he wants to increase the portion of renewable energy to 20% by 2030 and increase LNG imports, possibly through a Russian pipeline passing through North Korean territory.

The announcement could have global significance as South Korea counts as one of the top producers of nuclear power in the world and had been looking to export it's technology and expertise - most recently to the United Kingdom.

"I will scrap all preparations to build new reactors now underway and will not extend the lifespan of current reactors", he said. "I will shut down 10 aged coal plants during my presidency". That was intensified by the 5.8-magnitude quake that struck the Korean city of Gyeongju past year - an area not far from a number of nuclear plants.

Moon on Monday also vowed to cut South Korea's reliance on coal.

He pledged to abandon the nuclear-centric electric power policy and open a post-nuclear era. He said the cost of constructing the units, their safety and the costs of any potential compensation would be taken into consideration. The country is also searching for answers on how and where to permanently store spent nuclear fuel. During his first presidential campaign in 2012, Moon made a pledge to build a renewable energy industry complex in the Jeolla region to create 500,000 new jobs.

Related Articles

  • Cavaliers trying to acquire Jimmy Butler

    Cavaliers trying to acquire Jimmy Butler

    The Celtics have enough to put a competitive team on the floor as is without having to add a player of Butler's caliber. Well, that changed on Monday afternoon, just days before the NBA Draft is set to take place.
    Putin: New sanctions will 'complicate' Russia-US ties

    Putin: New sanctions will 'complicate' Russia-US ties

    The bill establishes a review process for Congress to have a say whether the White House eases Russian Federation sanctions. It also places additional sanctions on specific industries, including the country's mining, shipping and railway industry.
    Family: Michigan native shot multiple times in chest, arm

    Family: Michigan native shot multiple times in chest, arm

    As the two got to know each other more , Mika's love for sports - especially Detroit teams - became pretty obvious. Matt Mika , director of government relations for Tyson Foods , is one of several injured by an IL gunman.
  • Shift in Cuba policy would be failure for U.S. , says expert — Interview

    Shift in Cuba policy would be failure for U.S. , says expert — Interview

    Boston Consulting Group, a research consultancy, projected the island could see up to 2 million American travelers by 2025. Trump had previously said he supported restoring diplomatic relations but wished the USA had negotiated a better deal.
    Draymond Green trolls LeBron James with 'Quickie' shirt

    Draymond Green trolls LeBron James with 'Quickie' shirt

    He gave an interview today to Sports Illustrated that you can hear part of below in which he admits, "I'm petty". Green's penchant for always needing the last word led him to take a shot of LeBron's new shaved head look .
    Facebook Inc (NASDAQ:FB) Using Artificial Intelligence to Tackle 'Terrorist Content'

    Facebook Inc (NASDAQ:FB) Using Artificial Intelligence to Tackle 'Terrorist Content'

    Artificial intelligence is being deployed by Facebook in an effort to stop terrorists from using its website. In rare cases, when they uncover evidence of imminent harm, they promptly inform authorities about it.
  • Cosby judge could revisit issue of revealing names of jurors

    Cosby judge could revisit issue of revealing names of jurors

    Cosby has said he gave Constand the cold and allergy medicine Benadryl before their sexual encounter at his home two years later. He also found success with his " Fat Albert " animated TV show and starred in commercials for Jell-O pudding.
    Media Credits Editors for Kelly Interview With Alex Jones

    Media Credits Editors for Kelly Interview With Alex Jones

    Jones has said he believes that the shooting was a government hoax that used child actors. Jones later leaked audio of the full interview online.
    Orioles draft high school left-hander in first round

    Orioles draft high school left-hander in first round

    Their willingness to go to school likely played a roll in teams' decisions to pass on the two highly touted players. Day 2 of the MLB Draft continues Tuesday with rounds 4-10 taking place, which you watch via MLB.com live stream.
  • Tropical Storm Bret forms in Atlantic off Venezuelan coast

    Tropical Storm Bret forms in Atlantic off Venezuelan coast

    While forecast models are fairly uniformed on the development of a weak system, where it goes is still much less certain. A warning means that tropical storm conditions are expected to arrive sometime within the next 24 to 36 hours.
    Qatar signs pact with USA  to buy F-15 jets

    Qatar signs pact with USA to buy F-15 jets

    Turkish Foreign Minister Mevlut Cavusoglu, on a Gulf tour trying to help broker an end to the crisis, defended the deal. Central Command, which includes a state-of-the-art air base the U.S. depends on to target "Islamic State".
    Trump attacks Hillary again over 'bleaching' emails

    Trump attacks Hillary again over 'bleaching' emails

    Obstruction of justice is a serious charge, and one which led to impeachment proceedings against Richard Nixon after Watergate. Once Comey was sacked , the Department of Justice appointed Mueller as special counsel to act as an independent investigator.