KHNP

Korea Hydro & Nuclear Power Co., Ltd. (KHNP) is a power generation public enterprise under Korea Electric Power Corporation responsible for domestic nuclear and hydroelectric power generation, and it

KHNP

Overview

Korea Hydro & Nuclear Power Co., Ltd. (KHNP) is the only nuclear power generation operator in Korea and the largest power generation subsidiary, established in 2001 when the nuclear power generation division was separated from Korea Electric Power Corporation. It carries out nuclear, hydroelectric, pumped-storage power generation, and renewable energy businesses, and nuclear power accounts for around 30% of domestic electricity supply. Its headquarters is in Gyeongju, Gyeongsangbuk-do.

Main Content

Establishment and History

Korea's first nuclear power plant, Kori Unit 1, began commercial operation in 1978, marking the starting point of domestic nuclear power generation. In April 2001, following the restructuring of Korea Electric Power Corporation, the nuclear and hydroelectric power generation divisions were spun off and KHNP was launched; thereafter, it took overall charge of operating multiple nuclear plant sites, including Kori, Hanbit, Hanul, Saeul, and Wolseong. After the 2011 Fukushima nuclear accident, safety regulations and seismic design standards were greatly strengthened; in 2017, the nuclear phase-out policy reduced plans for new nuclear plant construction, but in 2022 the policy stance shifted to utilizing nuclear power, and construction and export projects resumed.

Power Generation Facilities and Business Areas

  • Nuclear power generation: Operates more than 20 reactors in Korea, and new units such as Shin-Hanul and Shin-Kori are continuing to be completed.
  • Hydroelectric and pumped-storage power generation: Contributes to peak load response and grid stability through hydroelectric and pumped-storage plants such as Cheongpyeong, Hwacheon, and Muju.
  • Renewable energy: Also invests in renewable energy projects such as solar and offshore wind.
  • Overseas business: Expands nuclear power plant exports and operation and maintenance (O&M) technical services, including support for construction and operation of the Barakah nuclear power plant in the UAE.

Technology and Export Competitiveness

KHNP's representative technology is the 1,400 MW-class Korean next-generation nuclear reactor APR1400. It secured commercial operation track records by successfully completing construction of four Barakah units in the UAE, and based on this, it was selected as the preferred bidder for new nuclear power plant projects at Dukovany and Temelín in the Czech Republic. It is also pursuing development of the innovative small modular reactor (i-SMR) in preparation for entering the next-generation reactor market.

Safety and Regulation

It is subject to licensing by the Nuclear Safety and Security Commission and technical review by the Korea Institute of Nuclear Safety (KINS), and carries out periodic safety reviews, stress tests, seismic reinforcement, and operation of dry storage facilities for spent nuclear fuel. Establishing a safety culture and transparent information disclosure are evaluated as core tasks of KHNP management.

Organization and Finance

The number of executives and employees is well over 10,000, and annual revenue reaches around KRW 15 trillion. Nuclear plant utilization rates and generation costs directly affect profitability, and it is also sensitive to electricity tariff structures and fuel cost fluctuations.

Recent Trends

  • Czech nuclear power plant order: After being selected as the preferred bidder in July 2024, a final contract is being pursued for signing in 2025, establishing a bridgehead for entry into the European nuclear power market.
  • Intellectual property dispute resolved: A dispute with Westinghouse of the United States over nuclear power plant exports was concluded with a settlement in early 2025, easing export uncertainty.
  • Energy policy shift: In the government's Basic Plan for Electricity Supply and Demand, expansion of the nuclear share and construction of new large nuclear power plants are being discussed again, and KHNP's burden of facility expansion is also growing.
  • AI data center demand: With the surge in large-scale power demand due to the spread of artificial intelligence, the value of nuclear power as stable baseload power is being reevaluated, and discussions on power supply contracts with Big Tech are increasing.
  • SMR commercialization: i-SMR is being developed with the goal of commercialization in the 2030s, and reactor type licensing and demonstration projects are proceeding in parallel.
  • Spent nuclear fuel management: The issues of high-level radioactive waste disposal and site selection remain social controversies, and discussions on enacting a special law are continuing.

Related Topics

  • [[Nuclear power generation]]
  • [[Korea Electric Power Corporation]]
  • [[APR1400]]
  • [[Small modular reactor]]
  • [[Czech nuclear power plant order]]
  • [[Energy policy]]