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South Korea’s $585M Nuclear Power Play: Why One City is the Top Choice

Daniel Kim Views  

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Gyeongju is South Korea’s largest nuclear hub and the only region with a complete nuclear ecosystem. By establishing a full value chain here—from R&D and demonstration of advanced small modular reactors (SMRs) through manufacturing to radioactive waste disposal—Gyeongju would be an ideal SMR construction site with potential to compete in the global market.

Choi Hyuk-jun, Gyeongju’s acting mayor (deputy mayor), framed the case for hosting the nation’s first SMR. The city applied to nominate roughly 1,216,000 square meters (about 300.6 acres) near the Wolsong Nuclear Power Plant in Yangnam-myeon as a candidate SMR construction site.

The city has held briefings for residents and local organizations to explain the need for and expected benefits of hosting an SMR. Anticipating that the final site-selection step—a resident acceptance survey conducted as a randomized telephone poll—will take place immediately after the June 3 local elections, city officials are intensifying efforts to persuade citizens of the project’s merits.

Choi said the strong public support shown during past efforts to host a disposal facility and expand the MACSTOR interim storage demonstrates a high level of public understanding, acceptance, and recognition of nuclear power’s utility and future potential—advantages that strengthen Gyeongju’s bid.

He said statutory support for SMR construction and operation is expected to total about 780 billion KRW (approximately 585 million USD). Linked with the Munmu Daewang Research Institute and the planned national SMR industrial complex, an active SMR industry in Gyeongju could spur job creation, draw new residents, and boost incomes—delivering significant benefits to the local economy.

Choi stressed that selecting sites for large new reactors and SMRs should prioritize national development over regional allocation. Decisions should be based on science and technology, favoring locations that are technically most efficient, economically viable, and most beneficial for the country’s future.

He added that North Gyeongsang Province and Gyeongju have rallied together to protect the nation and their region in difficult times. He urged Gyeongju residents—who successfully hosted the APEC summit—to unite once more in support of bringing the SMR to the city for the sake of the nation’s future.

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Daniel Kim
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