The South Korean government is consolidating its nuclear power export system into a unified team. Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power (KHNP), which previously managed overseas contracts separately, will now collaborate under government leadership to enhance their competitiveness in securing international contracts.
On May 14, the Ministry of Trade, Industry and Energy held the first nuclear power export strategy council meeting of 2026 at the Korea Trade Insurance Corporation, where it announced plans to streamline the nuclear power export system. The ministry aims to implement these measures immediately and as ongoing projects throughout the year.
As an immediate action, a public-private joint "export planning committee" will be established under the nuclear power export strategy council. The head of the ministry's nuclear strategy planning division will chair the committee, overseeing export negotiations and enhancing economic viability and risk assessment functions.
The countries targeted for export, which were previously managed separately by KEPCO and KHNP, will now be integrated into a cooperative management system. While both companies will jointly handle overseas nuclear project development and main contracts, KEPCO will lead external negotiations and equity investments due to its financial strength and recognition, while KHNP will focus on construction and operations. This restructuring aims to reduce overlapping roles and conflicts over leadership.
KHNP will take the lead in ongoing projects in the Czech Republic and the Philippines. It will also oversee the export of innovative small modular reactors (i-SMR), which it is currently developing.
The ministry also plans to push for the enactment of a proposed "Nuclear Power Export Promotion Act" within the year. This legislation will establish the ministry's supervisory authority over public institutions involved in overseas nuclear projects, provide a legal basis for a central export agency, and create a framework for financial and insurance support.
The government's initiative to reorganize the export system is driven by the expanding global nuclear market. Analysts suggest that rising electricity demand and decarbonization policies are renewing the strategic value of nuclear power.
The International Energy Agency (IEA) projects that global electricity demand will increase by approximately 40% by 2035 compared to 2024, driven by the growth of artificial intelligence, data centers, semiconductor industries, and the proliferation of electric vehicles.
Consequently, the energy mix is also evolving. The IEA forecasts that the combined share of renewable energy and nuclear power in global electricity generation will exceed 50% for the first time by 2030. This indicates a renewed focus on nuclear power as a stable baseload energy source to complement intermittent renewable energy.
Major U.S. tech companies like Google, Amazon, and Microsoft are also exploring investments in small modular reactors (SMRs) and power purchase agreements (PPAs) based on nuclear energy to secure carbon-free electricity.
Amid these trends, the export competitiveness of South Korean nuclear technology is being reassessed. South Korea has gained recognition in the large nuclear power sector based on its experience in constructing and operating the Barakah Nuclear Power Plant in the United Arab Emirates and its APR1400 technology. Expectations for additional contracts following the recent bidding in the Czech Republic are rising in this context.
Minister Kim Jeong-kwan stated, "To effectively respond to nuclear power export issues, we will refine the K-nuclear power team system and strengthen government support through legislation. We will enhance industrial competitiveness and risk management systems under the ministry's leadership to seize opportunities in the global nuclear renaissance."
* This article has been translated by AI.
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