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S. Korea presents new energy policies to strengthen energy security Updated: 2022-07-06 08:07:03 KST

The government announced new measures to boost energy security.
This includes reviving nuclear energy, which the previous administration moved to phase out.
Choi Min-jung outlines the changes to come.

South Korea's new administration has presented a range of new energy goals and policies.
These were announced during a Cabinet meeting on Tuesday headed by President Yoon Suk-yeol.
The Ministry of Trade, Industry and Energy said that its main goals include a response to climate change, strengthened energy security, and the creation of new energy industries.

First, authorities are committed to reviving South Korea's nuclear energy sector.
The current government has pledged to reverse the previous administration's attempt to phase out the use of nuclear energy.
In 2021,.. around 27 percent of the nation's energy needs were generated through nuclear power.
The Yoon administration aims to expand this to more than 30 percent by 2030.
To achieve this, the country will increase the number of nuclear reactors.
Currently, the country has 24,.. but the plan is to expand this to 28 by 2030.
To do so, the government is looking to resume the construction of two units of the Shin Hanul nuclear power plant.

"Among the many sources of power, nuclear power is relatively cheap compared to fossil fuels or wind and solar power. It doesn't release any carbon emissions. The government seems to be trying to expand the use of nuclear power because it's one of the best ways to go carbon neutral."

With a more feasible mix of nuclear, renewable, and hydrogen energy, the government hopes to reduce the country's dependency on fossil fuel imports.
That dependency is expected to drop to around 60-percent by 2030,.. from last year's 81 percent.
The number of energy venture firms will also double by 2030.
And this is expected to create around a hundred-thousand new jobs.
The specifics of the plan are set to be announced by the end of this year.
Officials say implementing such policies is crucial at a time when the global energy supply chain is threatened.
Choi Min-jung, Arirang News.
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