📋 Korean Law Insight | Energy & Regulatory Law
By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul
Korean Nuclear Energy Law and Small Modular Reactor (SMR) Investment: A Legal Guide for Foreign Investors
South Korea is undergoing a remarkable nuclear renaissance. After years of policy ambiguity, the government has reaffirmed nuclear power as a core pillar of the national energy mix, and the country is now emerging as a global leader in the design and export of Small Modular Reactors (SMRs). For foreign investors, technology companies, and energy firms, Korea's nuclear sector presents exceptional opportunities — but also a uniquely complex regulatory environment rooted in public safety law, non-proliferation obligations, and national security considerations.
This guide, prepared by HANBYOL LAW LLC, examines the legal framework governing nuclear energy investment in Korea, the regulatory approvals required for market entry, specific provisions applicable to SMR development, export regulations, and practical strategies for foreign companies seeking to participate in Korea's growing nuclear economy.
1. The Policy Context: Korea's Nuclear Renaissance
Korea operates 26 commercial nuclear reactors at four sites — Hanbit, Hanul, Kori, and Wolsong — generating approximately 30% of the country's electricity. Under the prior Moon Jae-in administration (2017–2022), a phase-out policy was announced. However, President Yoon Suk-yeol reversed course, reaffirming nuclear energy as indispensable to Korea's carbon-neutral and energy-security goals.
The government's 10th Basic Plan for Long-term Electricity Supply and Demand (2023) targets raising nuclear power's share to over 32% by 2036. In parallel, Korea is actively promoting its APR1400 reactor internationally and accelerating the development of its home-grown SMR technology, known as i-SMR (innovative Small Modular Reactor), targeting commercial deployment by 2030.
2. Key Legislation Governing Nuclear Energy
The nuclear energy sector in Korea is governed by a layered legal framework:
- Nuclear Safety Act (원자력안전법): The foundational statute governing the construction, operation, and decommissioning of nuclear facilities. Administered by the Nuclear Safety and Security Commission (NSSC / 원자력안전위원회).
- Atomic Energy Promotion Act (원자력진흥법): Promotes the peaceful use of atomic energy and supports research and development, including SMR programs. Managed by the Ministry of Science and ICT (MSIT).
- Electric Utility Act (전기사업법): Governs the licensing of electricity generation businesses, including nuclear power plants (NPPs). Administered by the Ministry of Trade, Industry and Energy (MOTIE).
- Foreign Investment Promotion Act (외국인투자 촉진법 / FIPA): Provides the framework for foreign investment, though certain nuclear sector investments require additional national security review.
- Act on Special Cases Concerning the Establishment of Nuclear Research Institutes: Governs specialized research facilities.
- Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and Korea-US 123 Agreement: International obligations that significantly constrain enrichment and reprocessing activities in Korea.
3. Regulatory Bodies and Their Roles
| Body | Korean Name | Role |
|---|
| NSSC | 원자력안전위원회 | Nuclear safety licensing, inspections, enforcement |
| MOTIE | 산업통상자원부 | Energy policy, electricity licensing, SMR commercialization |
| MSIT | 과학기술정보통신부 | R&D promotion, nuclear technology exports |
| KHNP | 한국수력원자력 | State-owned operator of all commercial NPPs |
| KAERI | 한국원자력연구원 | State R&D body; lead developer of i-SMR |
| KINAC | 한국원자력통제기술원 | Nuclear safeguards and non-proliferation compliance |
4. Foreign Investment in Nuclear Energy: Structural Constraints and Pathways
Direct foreign ownership of nuclear power generation assets in Korea faces significant restrictions. Under the Electric Utility Act, nuclear power plants are designated as strategic infrastructure, and KHNP, a subsidiary of KEPCO (Korea Electric Power Corporation), is the sole licensed operator of all commercial NPPs. This means foreign investors cannot simply establish an independent nuclear power company in Korea to generate electricity from nuclear sources.
However, several investment pathways remain open to foreign companies:
- Supply chain participation: Foreign companies may supply components, engineering services, fuel, instrumentation and control (I&C) systems, and digital safety systems to KHNP and its contractors.
- Joint ventures for SMR development: Korea's i-SMR program involves collaboration with private and international partners. The government has announced open tenders for technology licensing and component manufacturing.
- Nuclear fuel cycle services: Foreign companies can participate in uranium conversion, fuel fabrication, and spent fuel storage services subject to NSSC licensing.
- Decommissioning and waste management: As several older reactors approach end-of-life, decommissioning technology and waste management services represent a growing opportunity for foreign firms.
- Export consortia: Foreign firms can join Korean-led export consortia for APR1400 or i-SMR projects in third countries (e.g., Czech Republic, UAE, Poland, Ghana).
5. The i-SMR Program: Korea's Next-Generation Nuclear Technology
The i-SMR is a 170 MWe integral pressurized water reactor (iPWR) being developed by KAERI in collaboration with KHNP, private industry, and academia. Its key features include:
- Passive safety systems requiring no external power or operator action in the event of an accident
- Modular construction enabling factory fabrication and reduced on-site construction time
- Scalable configuration: multiple units can be combined for larger capacity
- 60-year operational life with 24-month refueling cycles
- Target applications: electricity generation, district heating, hydrogen production, and desalination
The NSSC is currently developing a dedicated SMR licensing framework, recognizing that existing regulations written for large light water reactors (LWRs) require adaptation. Foreign companies interested in collaborating on i-SMR should engage early with KAERI and MOTIE through official government-to-government (G2G) or business-to-business (B2B) channels.
6. Licensing Requirements for Nuclear Activities
Any entity seeking to conduct nuclear activities in Korea — whether operating a facility, handling nuclear material, or providing nuclear services — must obtain the appropriate license from the NSSC. The main license categories include:
- Site preparation permit (부지사전승인): Required before site works begin.
- Construction license (건설허가): Issued after comprehensive safety review, including design certification.
- Operating license (운영허가): Granted after pre-operational inspections are completed.
- Radioactive material handling license: Required for companies supplying or processing nuclear fuel or radioactive materials.
- Export/import license for nuclear material and technology: Administered by KINAC under the Atomic Energy Promotion Act and NPT obligations.
The licensing process is lengthy — typically 10–15 years from site selection to commercial operation for a large NPP. For SMRs, the government aims to streamline this to 7–10 years through regulatory reform.
7. Nuclear Technology Export Controls
Korea is a signatory to the NPT, the Nuclear Suppliers Group (NSG) guidelines, and the Wassenaar Arrangement. Exporting nuclear technology, materials, or equipment from Korea requires compliance with:
- The Foreign Trade Act (대외무역법) and its Strategic Materials Export Control List
- KINAC export licensing procedures for "trigger list" items (IAEA INFCIRC/254)
- The Korea-US 123 Agreement, which requires US consent for re-transfer of US-origin nuclear technology or material
Foreign companies involved in nuclear technology exports or imports must retain specialized legal counsel familiar with both Korean export control law and international non-proliferation obligations.
8. Environmental and Waste Management Obligations
The Act on Radioactive Waste Management (방사성폐기물 관리법) governs the handling, storage, transportation, and disposal of radioactive waste. The Korea Radioactive Waste Agency (KORAD) manages the low- and intermediate-level waste (LILW) repository at Gyeongju. High-level waste (HLW) / spent fuel disposal remains unresolved, with ongoing public consultations about a permanent geological repository.
Foreign companies providing waste management services or decommissioning technology must register with KORAD and obtain NSSC certification for radioactive material handling.
📌 Official References
Frequently Asked Questions (FAQ)
Q1: Can a foreign company own or operate a nuclear power plant in Korea?
No. Commercial nuclear power plants in Korea are exclusively operated by KHNP under the Electric Utility Act. Foreign companies cannot independently license or operate an NPP. However, they may participate through supply chain contracts, joint ventures for SMR development, and export consortia for overseas projects.
Q2: What is the i-SMR and when will it be commercially available?
The i-SMR is a 170 MWe Korean-designed small modular reactor developed by KAERI and KHNP. It targets domestic licensing completion by 2028 and commercial deployment by 2030. It is designed for electricity generation, district heating, hydrogen production, and desalination, and is Korea's flagship nuclear export product for the coming decade.
Q3: What licenses does a foreign company need to supply components to Korean nuclear projects?
Suppliers of nuclear-grade components must comply with quality assurance standards under ASME NQA-1 or equivalent Korean standards (KS or KEPIC standards), obtain vendor qualification from KHNP, and for certain nuclear materials, obtain a handling license from the NSSC. Import licenses for controlled nuclear items are administered by KINAC.
Q4: How does the Korea-US 123 Agreement affect foreign nuclear investment?
The 123 Agreement (renewed in 2015) requires US government consent for the re-transfer, enrichment, or reprocessing of US-origin nuclear material or technology in or from Korea. Since a significant portion of Korea's nuclear technology has US-origin components, any export or re-transfer of Korean nuclear technology to third countries may require prior US consent, creating an additional compliance layer for foreign partners.
Q5: Are there tax incentives for nuclear energy R&D investment in Korea?
Yes. Under the Restriction of Special Taxation Act (조세특례제한법), R&D expenditures in strategic technology areas, which include nuclear SMR development, are eligible for tax credits of 20–40% of qualifying expenditures for large companies, and up to 50% for SMEs. Foreign-invested companies meeting FIPA criteria may also benefit from tax holidays of up to 7 years on income from designated investment areas.
Q6: What are the penalties for nuclear safety violations in Korea?
Violations of the Nuclear Safety Act can result in criminal penalties of up to 10 years' imprisonment and/or fines of up to KRW 100 million for individuals, with additional administrative sanctions (license suspension or revocation) for legal entities. The NSSC also imposes civil penalties and can require remediation at the operator's cost.
Q7: How do I initiate a government-to-government (G2G) nuclear cooperation with Korea?
Foreign governments interested in nuclear cooperation with Korea typically approach through diplomatic channels, followed by negotiation of a Bilateral Nuclear Cooperation Agreement (123 Agreement or equivalent). Private companies may participate through industry associations, direct engagement with KHNP or KAERI, or participation in international nuclear energy exhibitions such as Korea's annual Nuclear Energy Conference.
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📋 韩国法律洞察 | 能源与监管法
By Attorney NOH UJIN | HANBYOL LAW LLC, 首尔
韩国核能法律与小型模块化反应堆（SMR）投资：外国投资者法律指南
韩国正在经历引人瞩目的核能复兴。在政策明朗化之后，政府重新确认核电作为国家能源结构的核心支柱，韩国正在成为小型模块化反应堆（SMR）设计与出口领域的全球领导者。对于外国投资者、技术公司和能源企业而言，韩国核能行业提供了卓越的机遇，但同时也涉及以公共安全法、防扩散义务和国家安全考虑为基础的独特复杂监管环境。
本指南由HANBYOL LAW LLC编制，审查了韩国核能投资的法律框架、市场准入所需的监管审批、SMR开发的具体规定、出口法规，以及外国公司参与韩国核能经济发展的实用策略。
1. 政策背景：韩国的核能复兴
韩国在四个站址运营26台商业核反应堆——汉比特、汉蔚、古里和月城——提供约30%的国家电力。尽管前文在寅政府（2017-2022年）宣布了逐步淘汰政策，但尹锡悦总统予以逆转，重新确认核能对于韩国碳中和和能源安全目标不可或缺。
政府第10次《长期电力供需基本计划》（2023年）目标到2036年将核电份额提高到32%以上。与此同时，韩国积极在国际推广其APR1400反应堆，并加速开发本土SMR技术，即i-SMR（创新型小型模块化反应堆），目标2030年实现商业部署。
2. 核能监管核心法律
- 《原子力安全法》：核设施建设、运营和退役的基础法规，由原子力安全委员会（NSSC）管理。
- 《原子力振兴法》：促进原子能的和平利用，支持包括SMR项目在内的研发，由科学技术信息通信部（MSIT）管理。
- 《电力事业法》：规范包括核电站在内的电力生产企业许可，由产业通商资源部（MOTIE）管理。
- 《外国人投资促进法（FIPA）》：提供外国投资框架，但部分核能行业投资需要额外的国家安全审查。
- 《核不扩散条约（NPT）》和《韩美123协议》：显著限制韩国铀浓缩和后处理活动的国际义务。
3. 外国投资核能：结构性限制与路径
外国直接拥有韩国核电资产面临重大限制。根据《电力事业法》，核电站被指定为战略基础设施，韩国水力原子力（KHNP）是所有商业核电站的唯一许可运营商。然而，多条投资路径对外国公司开放：
- 供应链参与：供应零部件、工程服务、燃料、仪器仪表和控制系统以及数字安全系统。
- SMR开发合资企业：i-SMR项目涉及与私人和国际合作伙伴的协作。
- 核燃料循环服务：铀转化、燃料制造和乏燃料储存服务，需取得NSSC许可。
- 退役和废物管理：老化反应堆退役技术和废物管理服务的增长机遇。
- 出口联合体：参与韩国主导的APR1400或i-SMR项目出口联合体。
常见问题（FAQ）
Q1：外国公司能否在韩国拥有或运营核电站？
不能。根据《电力事业法》，商业核电站由KHNP独家运营。外国公司可通过供应链合同、SMR合资开发及海外出口联合体参与市场。
Q2：i-SMR何时可商业化？
i-SMR是由KAERI和KHNP开发的170兆瓦韩国设计小型模块化反应堆，目标2028年完成国内许可，2030年商业部署，适用于发电、区域供热、制氢和海水淡化。
Q3：向韩国核项目提供零部件需要哪些许可证？
核级零部件供应商须符合ASME NQA-1或等效韩国标准（KS或KEPIC标准），获得KHNP的供应商资质认定，并为特定核材料向NSSC申请处理许可证。受控核项目的进口许可由KINAC管理。
Q4：违反核安全规定的处罚是什么？
违反《原子力安全法》可导致个人最高10年有期徒刑和/或最高1亿韩元罚款，法人实体则面临行政处罚（许可暂停或撤销）。NSSC还可征收民事罚款并要求运营商承担修复费用。
Q5：韩国对核能研发投资是否有税收激励？
是的。根据《租税特例限制法》，包括SMR开发在内的战略技术领域研发支出可享受20-40%（大企业）或最高50%（中小企业）的税收抵免。符合FIPA标准的外资企业在特定投资区域的收入还可享受长达7年的税收豁免。
📌 官方参考资料
📚 相关文章
📋 韓国法律インサイト | エネルギー・規制法
By Attorney NOH UJIN | HANBYOL LAW LLC, ソウル
韓国の原子力エネルギー法と小型モジュール炉（SMR）投資：外国投資家向け法律ガイド
韓国は目覚ましい原子力ルネサンスを経験しています。政策の方向性が明確になった後、政府は原子力を国家エネルギーミックスの中核として再確認し、韓国は小型モジュール炉（SMR）の設計・輸出分野でグローバルリーダーとして台頭しています。外国投資家、技術企業、エネルギー企業にとって、韓国の原子力セクターは卓越した機会を提供していますが、公共安全法、不拡散義務、国家安全保障上の考慮に基づく独特に複雑な規制環境でもあります。
1. 政策的背景：韓国の原子力ルネサンス
韓国は4か所のサイト（ハンビット、ハンウル、古里、月城）で26基の商業用原子炉を運転し、国内電力の約30%を供給しています。文在寅前政権（2017〜2022年）の脱原発政策を尹錫悦大統領が覆し、カーボンニュートラルとエネルギー安全保障の観点から原子力の不可欠性を再確認しました。
政府の第10次長期電力需給基本計画（2023年）は、2036年までに原子力の比率を32%超に高めることを目標としています。また、APR1400の国際展開を積極的に推進するとともに、国産SMR技術であるi-SMR（革新型小型モジュール炉）の開発を加速し、2030年の商業化を目指しています。
2. 主要規制法令
- 原子力安全法：原子力施設の建設・運転・廃止措置を規律する基本法。原子力安全委員会（NSSC）が所管。
- 原子力振興法：SMRプログラムを含む研究開発を支援。科学技術情報通信部（MSIT）が所管。
- 電力事業法：原子力発電所を含む電力発電事業のライセンスを規律。産業通商資源部（MOTIE）が所管。
- 外国人投資促進法（FIPA）：外国投資の枠組みを提供。一部の原子力セクター投資は追加の安全保障審査が必要。
- NPT条約・韓米123協定：韓国の濃縮・再処理活動を大幅に制約する国際義務。
3. 外国投資の構造的制約と参入経路
電力事業法上、商業用原子力発電所はすべてKHNPが独占運転しており、外国企業が単独でNPPを保有・運転することはできません。ただし、以下の参入経路が利用可能です：
- サプライチェーン参加：部品、エンジニアリングサービス、核燃料、I&Cシステムの供給
- SMR開発合弁事業：i-SMRプログラムへの民間・国際パートナーとしての参加
- 核燃料サイクルサービス：ウラン転換、燃料製造、使用済み燃料貯蔵（NSFCライセンス要）
- 廃止措置・廃棄物管理：老朽炉の廃止措置技術・サービス
- 輸出コンソーシアム：APR1400またはi-SMRの海外プロジェクト輸出コンソーシアムへの参加
よくある質問（FAQ）
Q1：外国企業は韓国で原子力発電所を所有・運転できますか？
できません。電力事業法上、商業用NPPはKHNPが独占運転します。外国企業はサプライチェーン契約、SMR共同開発、海外輸出コンソーシアムを通じて参加できます。
Q2：i-SMRの商業化はいつですか？
i-SMRはKAERIとKHNPが共同開発する170MWeの小型モジュール炉で、2028年に国内ライセンス取得、2030年商業化を目標としています。発電、地域暖房、水素製造、海水淡化への応用が想定されています。
Q3：韓国の原子力プロジェクトに部品を供給するために必要なライセンスは？
核グレード部品のサプライヤーはASME NQA-1または同等のKS・KEPIC規格への適合、KHNPのベンダー資格認定取得、特定核物質についてはNSSCからの取扱許可証取得が必要です。
Q4：核安全法違反の罰則は？
原子力安全法違反は個人に対して最高10年の懲役および/または1億ウォン以下の罰金、法人に対しては行政制裁（ライセンス停止・取消）が科されます。
Q5：韓国の原子力R&D投資に税制優遇はありますか？
はい。租税特例制限法により、SMR開発を含む戦略技術分野のR&D支出は、大企業で20〜40%、中小企業で最大50%の税額控除が適用されます。FIPA要件を満たす外資企業は最長7年の法人税免除も利用可能です。
📌 公式参考資料
📚 関連記事
📋 Perspectiva Legal Coreana | Derecho Energético y Regulatorio
By Attorney NOH UJIN | HANBYOL LAW LLC, Seúl
Ley de Energía Nuclear de Corea e Inversión en Reactores Modulares Pequeños (SMR): Guía Legal para Inversores Extranjeros
Corea del Sur está experimentando un notable renacimiento nuclear. Tras años de ambigüedad política, el gobierno ha reafirmado la energía nuclear como pilar central de la combinación energética nacional, y el país está emergiendo como líder mundial en el diseño y exportación de Reactores Modulares Pequeños (SMR). Para inversores extranjeros, empresas tecnológicas y firmas energéticas, el sector nuclear de Corea presenta oportunidades excepcionales, pero también un entorno regulatorio únicamente complejo fundamentado en derecho de seguridad pública, obligaciones de no proliferación y consideraciones de seguridad nacional.
1. Contexto Político: El Renacimiento Nuclear de Corea
Corea opera 26 reactores nucleares comerciales en cuatro emplazamientos —Hanbit, Hanul, Kori y Wolsong— generando aproximadamente el 30% de la electricidad del país. El presidente Yoon Suk-yeol revirtió la política de eliminación progresiva de la administración anterior, reafirmando la energía nuclear como indispensable para los objetivos de neutralidad de carbono y seguridad energética de Corea.
El Décimo Plan Básico para el Suministro y Demanda de Electricidad a Largo Plazo (2023) del gobierno tiene como objetivo elevar la cuota de energía nuclear a más del 32% para 2036. En paralelo, Corea está promoviendo activamente su reactor APR1400 internacionalmente y acelerando el desarrollo de su tecnología SMR nacional, conocida como i-SMR (Reactor Modular Pequeño Innovador), con despliegue comercial previsto para 2030.
2. Legislación Clave que Regula la Energía Nuclear
- Ley de Seguridad Nuclear (원자력안전법): Estatuto fundamental que rige la construcción, operación y desmantelamiento de instalaciones nucleares. Administrada por la NSSC.
- Ley de Promoción de la Energía Atómica (원자력진흥법): Promueve el uso pacífico de la energía atómica y apoya la I+D, incluidos los programas SMR.
- Ley de Servicios Eléctricos (전기사업법): Rige la concesión de licencias para negocios de generación de electricidad, incluidas las centrales nucleares.
- Ley de Promoción de Inversión Extranjera (FIPA): Marco para inversión extranjera; ciertas inversiones en el sector nuclear requieren revisión adicional de seguridad nacional.
- TNP y Acuerdo 123 Corea-EE.UU.: Obligaciones internacionales que restringen significativamente el enriquecimiento y reprocesamiento en Corea.
3. Inversión Extranjera en Energía Nuclear: Vías Disponibles
- Participación en cadena de suministro: Suministro de componentes, servicios de ingeniería, combustible, sistemas I&C y sistemas de seguridad digital.
- Empresas conjuntas para desarrollo de SMR: El programa i-SMR involucra colaboración con socios privados e internacionales.
- Servicios del ciclo del combustible nuclear: Conversión de uranio, fabricación de combustible y almacenamiento de combustible gastado.
- Desmantelamiento y gestión de residuos: Creciente oportunidad para empresas extranjeras especializadas.
- Consorcios de exportación: Participación en consorcios liderados por Korea para proyectos APR1400 o i-SMR en terceros países.
Preguntas Frecuentes (FAQ)
Q1: ¿Puede una empresa extranjera poseer u operar una central nuclear en Corea?
No. Las centrales nucleares comerciales en Corea son operadas exclusivamente por KHNP según la Ley de Servicios Eléctricos. Las empresas extranjeras pueden participar a través de contratos en la cadena de suministro, desarrollo conjunto de SMR y consorcios de exportación.
Q2: ¿Qué es el i-SMR y cuándo estará disponible comercialmente?
El i-SMR es un reactor de agua a presión integral de 170 MWe desarrollado por KAERI y KHNP. Tiene como objetivo completar la licencia nacional en 2028 y el despliegue comercial en 2030, con aplicaciones en generación eléctrica, calefacción urbana, producción de hidrógeno y desalinización.
Q3: ¿Qué licencias necesita una empresa extranjera para suministrar componentes a proyectos nucleares coreanos?
Los proveedores de componentes de grado nuclear deben cumplir con ASME NQA-1 o estándares coreanos equivalentes (KS o KEPIC), obtener la calificación de proveedor de KHNP, y para ciertos materiales nucleares, obtener una licencia de manejo de la NSSC.
Q4: ¿Cuáles son las sanciones por infracciones de seguridad nuclear en Corea?
Las violaciones de la Ley de Seguridad Nuclear pueden resultar en penas de prisión de hasta 10 años y/o multas de hasta 100 millones de KRW para individuos, con sanciones administrativas adicionales para entidades jurídicas.
Q5: ¿Existen incentivos fiscales para la inversión en I+D de energía nuclear en Corea?
Sí. Bajo la Ley de Casos Especiales de Restricciones Tributarias, los gastos de I+D en áreas tecnológicas estratégicas, incluido el desarrollo de SMR, son elegibles para créditos fiscales del 20-40% para grandes empresas y hasta el 50% para PYMEs.
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