Moon vows to wean Korea off nuclear power

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The shutdown of Kori-1 is estimated to cost more than $500 million, and the construction of dry cask storage at the site, which will contain spent fuel that that has already been cooled, could anger local residents, according to Segye Ilbo.

President Moon Jae-in vowed to scrap a nuclear-centered energy policy in a ceremony held in Gijang County northeast of Busan to mark the permanent shutdown of the Kori-1 nuclear reactor on Monday. It was also in the running to build the first small modular reactor. We will completely reexamine the existing policies on nuclear power.

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. He also hopes to "reach an early social consensus" regarding the future of the Shin Kori No. 5 and No. 6 reactors, which are now under construction.

The new government plans to increase the use of renewables to 20 per cent of the country's total power generation by 2030.

(.) While the decision to shut down the Kori-1 was made long before President Moon took office, the President himself has pledged to close down all nuclear power plants on Korean soil. "The Nuclear Safety and Security Commission will be promoted to a presidential commission", Moon said, "to heighten its authority and improve diversity, representativeness and independence".

Experts say the shutdown of coal power plants could dramatically hike utility cost in a country where coal power generates about 40 percent of its entire power needs.

SEOUL, South Korea (AP) - South Korea, one of the world's largest nuclear electricity producers, will scrap plans to build new nuclear power plants.

The president said the business community's concerns about power shortages, energy bill hikes and the expense of shutting down reactors can not deter his nuclear-free energy policy. Even if South Korea starts the phase-out now, it will take several decades until the currently operating fleet of reactors reach the end of their operation, Moon noted.

The nuclear-free energy initiative also is part of Moon's plan to support new energy industries and create jobs. Nuclear safety reemerged as a major issue for the public after the nuclear disaster in Fukushima, Japan in 2011, and the 5.8-magnitude quake that struck the Korean city of Gyeongju previous year - an area not far from a number of nuclear plants.

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