President Yoon Suk Yeol has unveiled ambitious plans to develop an SMR industrial complex in the city of Gyeongju, located in North Gyeongsang Province. In addition, the government intends to establish a hydrogen industrial center in the same region.
Yoon highlights Gyeongbuk as a beacon of industrial progress
During the 26th meeting on people’s livelihoods, held at the Yeungnam University Yoon highlighted Gyeongju as“the epicenter of high-tech manufacturing innovation in Northeast Asia.” He stressed that based on its potential and past contributions to the country’s modernization, the central government will provide significant support for Gyeongbuk to move forward and achieve a prosperous regional era.
He emphasized that the key to Gyeongbuk’s progress lies in the innovation of its industrial structure. Historically, Gyeongbuk led South Korea’s exports with its steel and textile industries. Today, the region is exploring and promoting new growth drivers such as hydrogen and biotechnology. The government is committed to strongly supporting this industrial transformation.
South Korea invests in SMR industrial complex and nuclear sector
Yoon announced an investment of KRW300 billion (USD216 million) to establish a national SMR industrial complex in Gyeongju. This project seeks to preemptively secure SMR technology that is being developed competitively around the world.
In addition, the Ministry of Trade, Industry and Energy will allocate a KRW80 billion fund next year to boost the country’s nuclear power sector. Yoon said the government will actively support infrastructure construction, technology development and prototype production for Gyeongbuk to become a global SMR manufacturing center.
Yoon also confirmed that the construction of units 3 and 4 of the Shin Hanul nuclear power plant in North Gyeongsang Province will proceed smoothly. This project is critical for Gyeongbuk to lead the restoration of the nuclear industry ecosystem. nuclear industry and new industrialization. Design work on these reactors was halted in 2017 due to political uncertainties.
Yoon Suk Yeol seeks to advance carbon neutrality
The president also detailed plans to turn Gyeongbuk into a center of the hydrogen industry. This effort includes the creation of a hydrogen economy industrial belt on the east coast, with an investment of approximately KRW800 billion, connecting Pohang and Uljin.
Currently, a hydrogen fuel cell cluster is being developed in Pohang’s National Blue Valley Industrial Complex, where about 30 companies are promoting local production of hydrogen fuel cells.
Finally, Yoon mentioned that the construction of the KRW400 billion (USD300 million) Uljin National Nuclear Hydrogen Industrial Complex began in 2022. This project is part of South Korea’s efforts to promote hydrogen as a future energy source and achieve carbon neutrality by 2050. The government has decided to exempt this project from certain preliminary fees to accelerate its progress.
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Source and photo: world-nuclear-news
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