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Economic value of the development of nuclear power plant decommissioning technology in South Korea

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  • Lee, Juyong
  • Cho, Youngsang

Abstract

The nuclear power plants (NPPs) worldwide operating for more than 30 years have reached over 50% of the total and have entered the deterioration stage in earnest. Thus, the requirement and demand for NPP decommissioning technology are expected to continue to increase in the future. The primary purpose of this research is to estimate the national willingness to pay (WTP) for the development of NPP decommissioning technology. To this end, we used the contingent valuation method with survey data from 1,028 Korean respondents. It was found that 812 out of 1,028 respondents were willing to pay for the development of NPP decommissioning technology. The mean WTP was estimated at KRW 14173.86 (USD 10.87), and it was also found that respondents with a higher level of knowledge of NPP decommissioning had higher WTPs. The analysis shows that additional policies and projects to boost public acceptance of NPP decommissioning must be preempted to achieve a suitable level of social consensus to promote the development of NPP decommissioning technology in Korea.

Suggested Citation

  • Lee, Juyong & Cho, Youngsang, 2023. "Economic value of the development of nuclear power plant decommissioning technology in South Korea," Energy Policy, Elsevier, vol. 181(C).
    • Handle: RePEc:eee:enepol:v:181:y:2023:i:c:s030142152300280x
    DOI: 10.1016/j.enpol.2023.113695
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