South Korea Touts Major Nuclear Export Push; Newbuild Resumption

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South Korean President Yoon Suk-yeol promised an enormous nuclear exports push this week as his government touted plans for resuming development on the twin APR1400s at Shin Hanul-3 and -4 halted by the previous government. This week's support package allocates some 92.5 billion won ($71 million) to immediately restart work on the Shin Hanul project, with 380 billion won injected as liquidity into the domestic nuclear industry, and 670 billion won for R&D, all this year. Another 3 trillion won ($2.3 billion) will go to nuclear R&D from 2023-25. The plans were announced during Yoon's Jun. 22 tour of the forge owned by Doosan Enerbility — formerly Doosan Heavy Industries — where abandoned Shin Hanul-3 and -4 components were stored. Doosan's 17,000-ton forging press, installed in 2017, was in danger of gathering dust under Yoon's predecessor, but Doosan is now lining up orders to keep the press busy, including for the fabrication of small modular reactor components "in the domestic and global markets," the company said.

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