South Korea to Expand Nuclear Power, Reduce Dependence on Crude

By Shinhye Kang

Aug. 13 (Bloomberg) -- South Korea, Asia's third-largest crude oil buyer, will expand the use of nuclear power and alternative energy sources to counter high oil prices and reduce greenhouse-gas emissions.

The government plans to raise the use of nuclear power to 41 percent of total supplies by 2030 from the current 26 percent, the Ministry of Knowledge and Economy said in an e-mailed statement today.

Under the government's long-term energy plan, the proportion of renewable-energy consumption, including solar, wind and water, should be raised to 11 percent by 2030 from the current 2.2 percent.

With additional nuclear-power plants and renewable energy use, South Korea can reduce oil use to 33 percent of its energy mix by 2030 from 44 percent, the ministry said.

To contact the reporter on this story: Shinhye Kang in Seoul at skang24@bloomberg.net