South Korea to finalize electricity plan by October, consult public on new nuclear plants

South Korea aims to finalize its 12th Basic Plan for Electricity Supply and Demand by October, according to Minister of Climate, Energy, and Environment Kim Sung-hwan. The plan will guide the nation's energy strategy, with a key focus on the future of nuclear power.

Minister Kim stated that the decision regarding the introduction of new nuclear power plants will be made through a process of gathering opinions from both experts and the general public. This approach signals a cautious stance on expanding nuclear capacity, prioritizing consensus-building.

Furthermore, the ministry is set to initiate measures to provide price signals and enable market mechanisms for renewable energy sources. This initiative will commence on Jeju Island, with the intention of extending successful outcomes to the Honam region and eventually nationwide. The goal is to foster a more dynamic and responsive energy market.