Seoul approves $7bn nuclear project

South Korea has approved funding for building two nuclear plants, in an effort to boost its energy capacity and prevent possible shortages caused by closing several reactors in the country.

Seoul said on Wednesday that it has approved USD 7 billion for the project, only two weeks after it announced a shift in policy to reduce its dependence on nuclear power.

The new decision comes after a string of nuclear reactor shutdowns over safety concerns, increased the risk of blackouts and other serious problems, relating to energy.

In May 2013, some reactors were shut down, following a scandal that broke over fake documents provided for using parts.

Seoul also closed down another nuclear power plant over technical difficulty on Wednesday, bringing the number of the closed reactors to four. The move has raised the risk of power shortage during winter.

The approval will promote South Korean nuclear power industry, as the country plans to double its nuclear capacity over the next two decades.

Ranking fifth globally in nuclear power generation, South Korea has boosted its nuclear industry through building 23 domestic nuclear reactors in the Korea Electric Power Corp (KEPCO).

MM/PR

Source Article from http://www.presstv.ir/detail/2014/01/29/348292/seoul-approves-7bn-nuclear-project/

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