South Korea accelerates nuclear expansion with new reactors and SMR investments by 2038

South Korea has outlined 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 is also investing heavily in domestic SMR technology development. In January 2023, Korea Hydro & Nuclear Power (KHNP) began a bidding process to select host cities for the new reactors. An external committee evaluated potential sites, choosing Yeongdeok-gun in North Gyeongsang Province for two large reactors and Gijang-gun in Busan for a small modular reactor.

The National Assembly supported these efforts by passing the Special Act on the Promotion and Support of SMR Development in February 2026. This legislation aims to accelerate the adoption of new nuclear technologies. Meanwhile, the Ministry of Science and ICT committed KRW1200 billion (USD830 million) by 2030 to advance core designs for three domestically developed SMR types.

South Korea already operates four APR1400 reactors domestically, with four more under construction. Additionally, four APR1400 units are in operation at the Barakah plant in the UAE. A consortium led by KHNP and the Korea Atomic Energy Research Institute is also developing the Innovative Small Modular Reactor (i-SMR), which has an electrical output of 170 MW. The new reactors and SMR projects will significantly boost South Korea’s energy infrastructure. The government’s investment and legislative support aim to ensure the country remains a leader in nuclear technology. Construction and development are set to proceed over the next two decades.