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HIGH OIL PRICES PROMPT SEOUL PLAN FOR MORE NUCLEAR REACTORS.
SEOUL, June 2 Asia Pulse - South Korea is weighing a plan to construct more than nine new nuclear power reactors to generate electricity as part of efforts to cope with skyrocketing oil prices, the government said Sunday.
By doing so, the government aims to raise the ratio of electricity generated by nuclear power to over 55 per cent from the current 36 per cent, the Ministry of Knowledge Economy said.
South Korea has 20 commercial nuclear power reactors and eight under construction or planned for completion by 2016. The country depends wholly on imports for its oil needs, with the country's oil import bill increasingly becoming a burden to Asia's fourth-largest economy.
The ministry said it will hold a public hearing on the construction of more nuclear ...
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Source: HighBeam Research, HIGH OIL PRICES PROMPT SEOUL PLAN FOR MORE NUCLEAR REACTORS.