Korea's Nuclear Industry Revitalized Amid AI Demand Surge
Korea's nuclear sector is poised for revival, driven by rising electricity demands linked to the AI boom. Key projects include two large reactors slated for completion by 2038 and a small modular reactor by 2035, indicating a strategic shift towards enhanced nuclear capabilities.
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Korea Hydro & Nuclear Power has announced the construction of two large nuclear reactors in Yeongdeok with completion expected by 2038, alongside a small modular reactor in Gijang by 2035. The resurgence in the nuclear industry follows a period of stagnation from 2017 to 2022 due to a government phaseout policy.
The industry is adapting to increased electricity demands from AI data centers, with Korean companies establishing global partnerships, particularly in small modular reactors (SMRs). The International Energy Agency projects global SMR investments could exceed $900 billion by 2050.
However, the recovery of Korea's nuclear ecosystem faces challenges, including the need for skilled labor and supply chain stability. Success in SMR projects is crucial for Korea to maintain its competitive edge in the global nuclear market.
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