South Korea accelerates nuclear expansion with new reactors by 2038

South Korea has unveiled plans to expand its nuclear energy capacity under the 11th Basic Plan. The strategy includes building two large reactors and 700 MW of small modular reactor (SMR) capacity by 2038. The government has also selected sites for these new projects after a thorough evaluation process. In January 2023, Korea Hydro & Nuclear Power (KHNP) began a bidding process to choose locations for the new reactors. Yeongdeok in North Gyeongsang Province was picked for two large-scale reactors, while Gijang in Busan was selected for a new SMR. An external committee assessed the bids, focusing on regional co-prosperity and the plants’ role as base load power sources.

The National Assembly passed the Special Act on the Promotion and Support of SMR Development in February 2026. This law supports the government’s push to invest KRW1200 billion (USD830 million) by 2030 in core technology for three domestic SMR designs. A consortium led by KHNP and the Korea Atomic Energy Research Institute is already developing the Innovative Small Modular Reactor (i-SMR), which will have an output of 170 MW.

South Korea currently operates four APR1400 reactors and has four more under construction. Additionally, four APR1400 units are in commercial operation at the Barakah plant in the UAE. The new reactors and SMRs will add 2.8 GWe and 700 MW to South Korea’s energy grid by 2038. The selected sites in Yeongdeok and Gijang will host these facilities, supported by significant investment in domestic SMR technology. The projects align with the country’s long-term energy strategy and regulatory framework.