(SEOUL=NEWSIS) The Ministry of Science, ICT and Future Planning announced March 2 it will invest a total of KRW 314.6 billion (USD 286 million) in 12 nuclear energy research and development (R&D) projects, a 7.7 percent increase year-on-year.

The ministry will invest KRW 142 billion in the nuclear energy technology development project. It will continue to develop core technologies for future nuclear energy, including the development of sodium-cooled fast reactors, which is related to spent nuclear fuel pyrochemical processing technology, to manage spent nuclear fuel in a safe and economic manner.

The spent nuclear fuel pyrochemical processing technology recycles 95 percent of spent nuclear fuel, which reduces nuclear proliferation concerns, as it would be impossible to extract pure plutonium. The ministry will conduct empirical studies at simulation facilities in Korea and strengthen research on separation and the demonstration of spent nuclear fuel in the United States.

The ministry will invest KRW 42.4 billion in the radiation technology development project to foster the high value-added radiation industry. It will expand R&D support to continue developing radiation convergence and radiation medical technologies as well as commercializing radiation technology.

The ministry will also enhance the global competitiveness of System-integrated Modular Advanced Reactors (SMART). It plans to invest KRW 9.3 billion in the SMART reactors, which have received the standard design approval for the first time in the world.

"We hope to export SMART reactors, which were developed with our own technology, and research reactors to foreign markets. We will do our utmost to ensure that the nuclear energy technology will develop our economy and improve the quality of life," said Director Moon Hai Joo of the Space and Nuclear Technology Bureau of the MSIP.

positive100@newsis.com

Source Text

Source: Newsis (March 01, 2015)

** This article was translated from the Korean.