The Ministry of Trade, Industry and Energy(MOTIE) said that it held a ceremony to commemorate the completion of Shinhanul Unit 1 reactor at the Shinhanul nuclear power plant site in Uljin, Gyeongsangbuk-do, inviting local residents and domestic and foreign nuclear industry officials on Dec. 14.
More than 500 people, including local residents, representatives from the government, foreign embassies in Korea, the National Assembly, KHNP, nuclear power companies and local governments, attended the completion ceremony.
The Shinhanul Unit 1, which began construction in 2010 and started operating this month, is the 27th nuclear power plant to start commercial operations in Korea.
It is a power plant applied with the next generation of Korea-type nuclear power plants (APR1400). The facility has a capacity of 1400MW, and there are two units in total.
The MOTIE predicted that the Shinhanul Unit 1 operation will contribute to energy and trade security, localize key equipment and boost nuclear exports, and set the stage for a leap forward in the nuclear ecosystem.
Shinhanwool Unit 1, which has been in operation since Dec. 7, produces electricity equivalent to a quarter of Gyeongsangbuk-do's electricity consumption, supporting the national economy and industry.
It is expected to contribute to stabilizing power supply and demand in winter by increasing the power reserve ratio from 11.7% to 13.3% during the winter season.
The operation of Shinhanul Unit 1 is expected to replace up to 1.4 million tons of LNG imports annually in the future, and will have a significant effect on reducing energy imports and improving trade deficits given Korea's reliance on imports for most of its energy fuel (about 93%).
It is also expected to have the effect of localization of key equipment and exports of nuclear power plants.
Shinhanul Unit 1, which is applied with APR1400, the next-generation Korean nuclear power plant, is the first nuclear power plant to localize key equipment that has remained in the unaffiliated area.
As a representative model to be exported to the Czech Republic in the future, it is expected to contribute to achieving the goal of exporting 10th nuclear power plants by 2030.
In order to pave the way for a leap forward in the nuclear power plant ecosystem, we are also making all-out efforts to restore the nuclear power plant ecosystem and strengthen competitiveness so that our nuclear power plant industry can expand to the world in connection with the completion of Shinhanul Unit 1.
To this end, Shinhanul Units 3 and 4 are pushing for a rapid resumption of construction with the aim of starting construction in 24 years, including efficient licensing procedures and environmental impact assessment and completing approval of the power development implementation plan next year.
The Shinhanul Units 3 and 4 construction work will begin in earnest in the first half of next year, and a total of more than 2 trillion won worth of jobs will be supplied next year.
It plans to invest more than 1 trillion won separately next year in financial support such as loans and guarantees to resolve management difficulties in the nuclear power industry, and R&D support to improve competitiveness in nuclear technology.
At the completion ceremony, a reward-presenting ceremony was also held for workers at the construction site of Shinhanul Unit 1, who contributed to the localization of equipment and materials, and those who contributed to small and medium-sized nuclear power plants.