South Korean President Moon Jae-in reiterated that the country will phase out of nuclear power which takes up a third of domestic electricity supply to shift to renewable and clean energy.

“Plans for new reactors will be scrapped and active reactors’ life won’t be extended,” said Moon during a ceremonial shutdown of the country’s oldest Kori-1 nuclear reactor.

Next on the list to retire is the Wolsung-1 reactor whose life had been extended. The government will decide the fate of the Shin Kori 5 and 6 reactors whose construction is near 30 percent underway upon comprehensive consideration of the safety, cost, reserve level, and overall public opinion.

Moon who had previously declared phase-out from fossil-fueled and nuclear power generation said construction of coal-fired plants would be stopped and 10 aged fossil-fueled power grids will be closed within the next five years.

Instead the government will promote renewable energy and clean fuel such as natural gas sources. Renewable energy along with digitalization and automation technologies will be the country’s new growth engine, he said.

Moon, however, did not specify how to make up for the shortfall of energy supplies when existing power generators are turned off.

To ensure safety of nuclear reactors, the independent Nuclear Safety and Security Commission will come under the presidential office, he said.

By Ko Jae-man and Kang Gye-man

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]