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Assessing the Socio-Economic Effects of Korea's Nuclear Power Policy

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  • Won-Sik Hwang
  • Inha Oh
  • Jeong-Dong Lee

Abstract

Although nuclear power is one of the most critical issues in Korean energy policy, there are few comprehensive studies on its direct and indirect economic impacts. In this study, we analyze the economic changes caused by alternative nuclear power policies, including caps for greenhouse gas (GHG) emissions. For this purpose, we construct three scenarios: Expansion, no change, and reduction in the share of nuclear power in total power generation. Methodologically, we develop a computable general equilibrium (CGE) model with detailed energy and electricity sector representation and apply the model by utilizing current and projected data on the Korean economy and its energy demand structure. The simulation results quantitatively demonstrate economic and welfare losses when the share of nuclear power in total power generation decreases.

Suggested Citation

  • Won-Sik Hwang & Inha Oh & Jeong-Dong Lee, 2014. "Assessing the Socio-Economic Effects of Korea's Nuclear Power Policy," Energy & Environment, , vol. 25(5), pages 931-952, July.
    • Handle: RePEc:sae:engenv:v:25:y:2014:i:5:p:931-952
    DOI: 10.1260/0958-305X.25.5.931
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    References listed on IDEAS

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    5. Congressional Budget Office, 2012. "The 2012 Long-Term Budget Outlook," Reports 43288, Congressional Budget Office.
    6. Welsch, Heinz & Ochsen, Carsten, 2001. "Dismantling of nuclear power in Germany: sectoral and macroeconomic effects," Energy Policy, Elsevier, vol. 29(4), pages 279-289, March.
    7. Liu, Qiang & Shi, Minjun & Jiang, Kejun, 2009. "New power generation technology options under the greenhouse gases mitigation scenario in China," Energy Policy, Elsevier, vol. 37(6), pages 2440-2449, June.
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