Last Tuesday, the South Korean government announced plans to resume stalled construction on nuclear reactors in support of the government’s recent shift to a pro-nuclear energy policy (Reuters). This change comes with the election of President Yoon Suk-yeol, who made energy policy a key part of his political platform when running for office in April. The new government sees nuclear as a component of its strategy to meet the nation’s target of cutting emissions to 40% of their 2018 levels by 2030––a goal set by the previous government (Bloomberg Law). 

After five years of stalled construction on nuclear projects during Moon Jae-in’s presidency, the nation has now pledged not only to extend the life of existing reactors but also to build four new reactors by 2030, increasing the share of electricity from atomic energy from 27% to at least 30% (CNN). Yet the increase in nuclear energy’s portion of the country’s energy share will accompany a decrease in the share for renewable energy (Bloomberg). 

This decision to revitalize the nation’s nuclear industry can be understood not only in the context of South Korea’s emission reduction goals, but also as precipitated by increased instability of the global energy supply chain following the Russia-Ukraine crisis (CNN). In addition to expanding nuclear energy, South Korea will be expanding its strategic oil and natural gas reserves in an effort to increase price stability (Bloomberg). 

Other nations also passed laws promoting expansion of the nuclear industry last week as they attempt to transition quickly from fossil fuels. On July 6, European Union lawmakers voted to label nuclear power as “green,” enabling its expansion to receive funding from environmental investors (Reuters).