The South Korean government has confirmed plans to construct two new large‑scale nuclear reactors, targeting completion between 2037 and 2038. This is part of its long‑term strategy to meet rising electricity demand while reducing reliance on fossil fuels and cutting carbon emissions. The reactors are included in the nation’s 11th Basic Plan for Electricity Supply and Demand, 2024-2038, and will be developed under the oversight of state‑run Korea Hydro & Nuclear Power Co. (KHNP). The two new reactors in South Korea also intend to support a future power mix centered on both nuclear and renewable energy sources as the world continues to look toward low‑carbon generation.

South Korea to Build Two New Nuclear Reactors: Details on the Development

Under the plan, KHNP will begin bidding procedures to select host sites by 2027. This will advance the early preparatory phase of the project, including environmental reviews, community engagement and site evaluation. The ministry also aims for nuclear safety regulatory approval by around 2031. This will create the framework for construction to proceed toward the planned 2037-2038 completion window. Details on specific reactor models, generating capacity per unit and bid participants are expected to emerge as the siting and licensing process progresses.

The Changing Energy Landscape

Just like the world’s, South Korea’s energy landscape is changing in response to looming capacity pressures and decarbonization goals. There is also the need to meet demands of a growing industrial and digital sector.

South Korea’s government forecasts electricity demand will rise significantly through the late 2030s. This will be mainly driven by economic growth, increased adoption of electric vehicles and data‑intensive technologies including AI. Nuclear power currently supplies about one‑third of South Korea’s electricity and is expected to increase its share in the national mix as part of the country’s carbon‑neutral strategy by 2038.

Additionally, the planned new reactors sit alongside other expansions in South Korea’s nuclear pipeline. This includes the ongoing construction at existing sites such as Shin Hanul and Saeul. These will also complement investments in small modular reactors (SMRs) anticipated later in the decade. Further regional investments in the nuclear sector are also taking shape east of South Korea, across the East Sea, in Japan. The island nation is building a new nuclear reactor at Mihama, Fukui Prefecture – marking one of the first concrete steps post-Fukushima in new build-outs.

What to Look Out For as South Korea Plans to Build Two New Nuclear Reactors

Despite the momentum set by the policy, obstacles remain. First off, permitting and siting decisions can be long-drawn-out. Second off, local community acceptance can also influence timelines. Not to mention, financing large nuclear builds requires favorable capital market conditions. Also important is the ever-changing policies on the energy sector could change the direction this whole plan follows. However, the current consensus within government and among a significant portion of public positions is that the new reactors are strategic to South Korea’s energy future.