Confidence in winning Czech nuclear power plant order… “Korea is the only country with management capabilities.”
“Achieving $700 billion in exports shows our economic growth potential.”
▲Minister of Trade, Industry and Energy Ahn Deok-geun (Etoday DB)
Minister of Trade, Industry and Energy Ahn Deok-geun emphasized that normalization of electricity and gas rates is absolutely necessary, but expressed his view that he is looking for the right time due to concerns about the price burden.
Minister Ahn met with reporters near the Sejong Government Complex on the 7th and said, “(Electricity and gas rate increases) need to be balanced quite comprehensively, and we are looking for the right time.”
Minister Ahn explained, “Normalization of electricity and gas rates is absolutely necessary and urgent, but in a situation where prices are rising, the burden on the industry is great. Not only is it a direct hit to consumers’ livelihoods, but the industry is also concerned.”
KEPCO’s rates have been frozen for four consecutive quarters since the first half of last year, and its debt has increased to 202 trillion won as of the end of 2023. KEPCO, which is struggling with serious management difficulties, is holding on by issuing bonds and collecting dividends from its subsidiaries.
Korea Gas Corporation is also in desperate need of a rate increase considering the size of civil city gas receivables amounting to 13.7 trillion won last year.
Accordingly, it was expected that discussions on rate increases would begin after the April general election, but as prices have not been determined, the government appears cautious about increasing rates. A freeze is likely in the first half of this year, and it is not easy to predict the extent and timing of rate increases in the second half.
Minister Ahn expressed confidence in winning the Czech nuclear power plant order and emphasized that he would do his best until the end.
Minister Ahn said, “Our engineering companies have experience in completing the construction of four nuclear power plants in the United Arab Emirates, and the Czech Republic is also paying attention to this.” He added, “To build four nuclear power plants like the Czech Republic, thousands of workers must be invested. “We are the only country with the real ability to manage this,” he emphasized.
He added, “Once the four nuclear power plants are installed, the (Czech Republic’s) energy infrastructure will change, and once the infrastructure is in place, our companies will have more room to invest,” adding, “Our strengths include industrial cooperation and practical nuclear power plant construction capabilities.” .
The significance of achieving exports of $700 billion was also pointed out.
Minister Ahn said, “Achieving 700 billion dollars in exports this year is not about earning dollars like in the 1980s, but rather shows the growth rate and growth potential of our economy.” He added, “Through exports and investment, we will raise this year’s economic growth rate to the upper 2% range and achieve 3% next year.” “We will work hard to raise the percentage,” he said.
Regarding the ’11th Basic Plan for Electricity Supply and Demand’, which is scheduled to be announced soon, it was explained that the direction of balanced growth of renewable energy and nuclear power plant utilization is being clearly established.
Minister Ahn said, “Under our country’s circumstances, there is no way to supply power to high-tech industries only with renewable energy, so we cannot avoid covering it with nuclear power plants.”
He continued, “Since it is a global trend to include nuclear power plants in carbon neutrality, it is wise and reasonable to make good use of nuclear power plants if we can utilize our technological capabilities and ensure safety,” adding, “We will restore the nuclear power plant ecosystem and utilize it well, but solar power and offshore wind “We are also considering ways to systematically expand it,” he added.