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IEA report urges action from Korean nuclear industry
- 11 years ago (2012-11-28)
- Junior Isles
The International Energy Agency (IEA) has said that South Korea needs to improve transparency and improve regulation in order to rebuild public trust in nuclear power, after safety scares have caused reactor closures, threatening blackouts.
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An investigation into the nuclear industry found fake safety documents for parts which led to two reactors being shut and an extended shutdown of another reactor where microscopic cracks were found.
South Korea plans to add 11 more nuclear reactors by 2024 to supplement the 23 that usually supply a third of its power. The rest of its energy supply relies heavily on oil and gas imports.
The IEA report backs the country's nuclear programme, but says that more needed to be done to restore faith in a sector in light of greater global scrutiny post- Fukushima.
"Given the growing demand for energy and Korea's lack of indigenous energy resources, this is a logical policy," said Maria van der Hoeven, the IEA's executive director.
"Nonetheless, recent incidents at Korean nuclear facilities should serve as a timely reminder to the government that the nuclear regulatory authority must maintain an enhanced profile, be well-resourced and able to take independent decisions."
Much rests on South Korea’s nuclear programme, both at home and abroad, as Asia’s fourth largest economy hopes to grow its international nuclear programme, aiming to export 80 nuclear reactors, worth up to $300 billion, by 2030. A $20 billion nuclear deal with the United Arab Emirates has already been signed.
South Korea has warned it may have to bring in rolling power blackouts during the harsh Korean winter due to a lack of nuclear power; with six reactors are currently offline, and one restarting only recently, according to government data.
Van der Hoeven said the country needed to increase competition in its power and gas markets.
"The lack of a clear, long-term vision for electricity and natural gas markets is one of the greatest energy policy challenges facing the Korean government," she said.
"The IEA strongly urges the Korean government to establish a framework that allows the development of effective competition in the electricity and natural gas markets."