Economic analysis of nuclear energy

The topics to be addressed in this study include the mid and long-term strategic plan of KAERI, international panel review on KAERI, Human Resources Development specialized in nuclear field, economic feasibility studies on the several development projects including SMART, new research reactor and Sodium Fast Reactor. The existing R and D plans of KAERI as well as the related national programs, were reviewed and reflected to the plan. As the first step, the long-term R and D goals were identified, allowing for unique characteristics of nuclear R and D requiring long term investment. Secondly, five mid-term strategic goals were derived from the long term goals. Thirdly, many research projects to achieve the derived goals were identified, and then, 14 R and D projects were selected from the identified projects based on the criterion of the size of potential market. Finally, five strategic R and D projects with high priority were chosen based on the criterion of the existing research capacities. The value of acquisition of a design certificate of SMART was estimated to be in the range of 201.7∼320.1 billion won far exceeding 170 billion won the total budget for it. The study suggests the probable selling prices of SMART ranging from 91 Won/kWh to 134 Won/kWh in case KHNP takes initiative the construction of SMART. As a result of the project, GHG reduction potential in 2020 was estimated to be 44 million ton in electric power generation, 1 million ton in oil refinery sector, 16 million ton in residential sector, 12 million ton in commercial sector and 22 million ton in transportation sector