SUBSCRIBE
PROFILE

South Korea to build two new nuclear reactors by 2038

The South Korean government has finalized its 11th Basic Power Supply and Demand Plan, which includes the construction of two additional nuclear reactors and a small modular reactor by 2038 to support industrial growth and strengthen energy security.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

South Korea has officially confirmed its 11th Basic Power Supply and Demand Plan, which aims to significantly expand its nuclear capacity to meet rising electricity demand. This plan, covering the period from 2024 to 2038, includes the construction of two new large-scale nuclear reactors and a small modular reactor (SMR) by 2038, in addition to ongoing and planned projects.

Rising electricity demand

The Ministry of Trade, Industry and Energy forecasts an average annual electricity demand growth of 1.8% between 2024 and 2038, reaching 129.3 gigawatts (GW) by 2038—an increase of more than 30% compared to 2023. This rise is primarily driven by the rapid expansion of high-tech industries, including artificial intelligence and semiconductors.

Strengthening the nuclear sector

The plan aims to increase nuclear power generation from 180.5 terawatt-hours (TWh) in 2023 to 248.3 TWh in 2038. As a result, the share of nuclear energy in the country’s power mix will grow from 30.7% to 35.2%. Currently, South Korea’s 26 operating reactors provide about one-third of the nation’s electricity. In addition to the newly planned reactors, the program relies on the completion of five units already under development: Shin Hanul 2, which began commercial operation in April 2024, as well as Saeul 3 and 4 and Shin Hanul 3 and 4, collectively adding 7 GW of capacity.

Deployment of small modular reactors

Alongside large reactors, South Korea plans to integrate 0.7 GW of small modular reactor capacity by 2038. The ministry stated that domestic SMR commercialization is expected by 2035, contingent on technological advancements and regulatory approvals.

Energy transition and diversification

The government aims to reduce coal’s share in electricity generation from 31.4% in 2023 to 10.1% by 2038. Expanding renewable energy is another key priority, with a target of adding 7 GW of new renewable capacity annually by 2030. As a result, the share of renewables is expected to increase from 8.4% in 2023 to 29.2% in 2038.

Strategic policy direction

This energy strategy aligns with the policies of President Yoon Suk-yeol, elected in 2020, who has reinforced the nuclear sector after his predecessor, Moon Jae-in, initiated a gradual phase-out in 2017 following the 2011 Fukushima disaster.

  • Popular on energynews.pro
Flamanville EPR reactor reaches 100% nuclear power after 12-year delay
Egypt launches $220mn solar complex in the Suez Canal zone
Uganda seeks $2 billion loan from Vitol for oil infrastructure projects
BayWa r.e. sells 46 MW floating solar project in the Netherlands
Primary Hydrogen targets Q1 2026 permit for its Wicheeda North project
Radiant raises $300mn to industrialise its micro nuclear reactors in the United States
California-based startup Radiant has secured $300mn to build its first factory in Tennessee and prepare for the mass production of miniature nuclear reactors for off-grid applications.
Terra Innovatum accelerates licensing process for its SOLO™ reactor with the NRC
Terra Innovatum has increased its interactions with the Nuclear Regulatory Commission to advance licensing of its SOLO™ micro-modular reactor, despite the partial shutdown of the US federal government.
Clinton and Dresden nuclear reactors granted 20-year licence extensions
The US nuclear regulator has extended the operating licences of three Illinois reactors by 20 years, strengthening Constellation's long-term industrial outlook for the Clinton and Dresden sites.
Orano and the University of Pau launch EUR2.3mn programme to explore new uranium deposits
The SATURNE Industrial Chair aims to develop innovative uranium extraction methods, with joint funding from Orano and the National Research Agency over a four-year period.
X-energy secures Doosan forgings for its SMR reactors
US-based X-energy has signed a reservation agreement with South Korea's Doosan Enerbility to secure key components for its small modular nuclear reactors.
Niger signs strategic deal with Russia to revive uranium mining
Niger expands its mining alliances with Uranium One to develop new sites, while the Dasa project continues seeking financing despite clear political backing.
Samsung Heavy Industries secures certification for floating nuclear platform with SMART100
Samsung Heavy Industries has received Approval in Principle for a floating nuclear plant featuring two SMART100 reactors, marking a step toward the commercialisation of offshore small modular reactors.
India unveils draft law to open its nuclear sector to private investment
The Indian government proposes a unified legal framework for nuclear energy, aiming to boost private investment and increase installed capacity to 100 GW by 2047.
Samsung C&T expands nuclear projects in Europe with Synthos Green Energy
Samsung C&T strengthens its presence in modular nuclear energy in Europe by signing an agreement with Synthos Green Energy to develop up to 24 SMRs in Poland and several Central European countries.
nT-Tao develops control method to stabilise power delivery in fusion systems
Israeli firm nT-Tao and Ben-Gurion University have developed a nonlinear control system that improves energy stability in fusion plasmas, strengthening the technical foundation of their future compact reactors.
India opens nuclear sector to private companies with landmark bill
The Indian government has introduced a bill allowing private companies to build and operate nuclear power plants, ending a state monopoly in place for over five decades.
Natura launches DOE authorisation process for its MSR-1 reactor in Texas
Natura Resources enters a new regulatory phase for its molten salt reactor MSR-1, following the signing of a framework agreement with the US Department of Energy under the Reactor Pilot Program.
Norway consults 22 municipalities about hosting nuclear waste facilities
Norwegian Nuclear Decommissioning is surveying 22 localities to assess their interest in hosting storage facilities for radioactive waste from the country’s former research reactors.
GE Vernova Hitachi’s BWRX-300 SMR clears regulatory milestone in the United Kingdom
GE Vernova Hitachi’s BWRX-300 small modular reactor has passed a key regulatory hurdle in the United Kingdom, opening the door to potential commercial deployment, despite no current plans for construction.
Natura acquires Shepherd Power and targets several gigawatts of nuclear reactors by 2032
Molten salt reactor developer Natura Resources has acquired Shepherd Power and partnered with NOV to scale up modular reactor manufacturing by the next decade.
China confirms 2026 for Linglong One, the world’s first land-based SMR
China National Nuclear Corporation expects commercial operation in 2026 for its ACP100 reactor, following successful cold testing and completion of critical structures in 2025.
Finnish SEATOM joins NATO’s 2026 defence tech acceleration programme
Start-up SEATOM has been selected to join NATO's DIANA programme with its micro nuclear reactor designed for extreme environments, reinforcing its position in dual-use marine and military energy technologies.
Estonia launches key procedure for 600 MW nuclear project
The Estonian Ministry of Economic Affairs has opened a tender to select a site and conduct initial environmental studies for a 600 MW nuclear power plant, marking a decisive step for the country’s energy future.
EU approves €42bn Polish state aid for first nuclear reactor
The European Commission has approved Poland's financial support plan for its first nuclear power plant, a €42bn project backed by public funding, state guarantees, and a contract for difference mechanism.
Nuward reaches new regulatory milestone with six European nuclear regulators
Six European nuclear authorities have completed the second phase of a joint review of the Nuward modular reactor, a key step toward aligning regulatory frameworks for small nuclear reactors across Europe.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.