South Korea’s bold $863.7 Million Fusion Investment to Ensure Energy Leadership
South Korea made a significant stride in its quest for energy leadership by announcing an investment of KRW 1.2 trillion ($863.7 million) into the development of nuclear fusion technology last month.
This bold initiative, unveiled during a meeting of the National Nuclear Fusion Committee, marks a pivotal moment in the country’s energy strategy. With fusion power often described as the “holy grail” of clean energy, this investment further sets the stage for South Korea to become a key player in the global energy market of the future.
The Korea Superconducting Tokamak Advanced Research (KSTAR) ©National Research Council of Science and Technology.
What Have They Done?
On July 22, 2024, The South Korean government, through its Ministry of Science and ICT, committed to a decade-long program aimed at developing nuclear fusion technologies. This initiative focuses on establishing a public-private partnership (PPP) model and a fusion ecosystem led by the private sector.
The investment is separate from the funds already allocated to ongoing projects like the Korea Superconducting Tokamak Advanced Research (KSTAR) and the International Thermonuclear Experimental Reactor (ITER). Instead, it will support the development of integral fusion reactor components, and promote “an ecosystem for fusion energy together with the private sector, universities and research institutes” according to Oh Yeong-Kook, president of the Korea Institute of Fusion Energy.
The government stated it’s desire to build a 100MW pilot fusion device in the 2030s, aiming for operations in the 2040s.
Why Is It Impressive?
This investment is impressive as it represents one of the largest government commitments to fusion energy development globally, positioning South Korea alongside other major players like the United States, the United Kingdom, and China. The country’s existing expertise with KSTAR provides a strong foundation for these new endeavours. KSTAR has already achieved significant milestones, such as recently sustaining
a world record-breaking 100 million degree plasma for 48 seconds.
An investment of this magnitude reaffirms South Korea’s confidence in Fusion energy and highlights the country's determination to forge new and innovative pathways to bring fusion forward.