South Korea needs the United States to secure its nuclear energy supply

For South Korea, an important US strategic ally in the Indo-Pacific region, disruptions in the Strait of Hormuz have led to economic and energy shocks.

As a country that relies heavily on energy imports, South Korea relies on international trade agreements to meet more than 90% of its energy needs.

These geopolitical pressures prompted South Korean President Lee Jae-myung, at the beginning of the Iran war, to assert that Seoul would need to search internally for solutions to its energy crisis. He said: “In the era of endless competition, the only thing that can help us survive is to rely on ourselves.”

Under Lee’s administration, the Ministry of Climate, Energy and Environment has renewed efforts to expand the country’s limited renewable energy sources, with the goal of reaching 100 gigawatts of wind and solar capacity by 2030.

However, nuclear power is South Korea’s largest source of low-carbon energy domestically by far, producing 607 terawatt-hours in 2024, while making up a third of the country’s total electricity production.

Commercial nuclear reactors in South Korea include 26 large reactors in operation, three reactors under construction, in addition to plans to establish additional conventional reactors and small model reactors by 2038.

While the nuclear power that supplies South Korea’s electricity may be produced domestically, the nuclear fuel used to power this critical infrastructure is 10% imported.

In addition to coal and liquefied natural gas, South Korea relies heavily on international partnerships and contracts to import low-enriched uranium.

As geopolitical conflicts intensify, Seoul’s sense of insecurity regarding nuclear fuel is likely to increase.

Looking to the future, it will be important for Washington and Seoul to work side by side to secure conventional nuclear fuel and advanced and innovative fuels.

The United States has long recognized South Korea’s interest in expanding its access to much-needed nuclear fuel supplies.

Under the 2015 US-South Korea Nuclear Energy Cooperation Agreement, also known as the “123 Agreement,” South Korea must obtain prior approval from the United States for enrichment and reprocessing operations.

Recognizing the importance of stable nuclear fuel supplies, one of the provisions of the agreement concluded between the United States and South Korea in 2015 includes provisions stipulating the obligations of the United States “to the extent necessary and possible, to ensure reliable supplies of low-enriched uranium to South Korea.”

In the face of global changes in low-enriched uranium supply chains, especially with the United States and European countries moving to phase out imports of enriched uranium from Russia, South Korea is pushing for uranium enrichment domestically, and this has created a potential opportunity for renewed cooperation between the United States and South Korea in the field of civilian nuclear energy.

After his visit to Seoul to attend the Asia-Pacific Economic Cooperation Summit, US President Donald Trump announced, in accordance with the “bilateral agreement and US legal requirements,” his support for domestic civilian nuclear uranium enrichment and the reprocessing of spent fuel in South Korea in the future.

For Seoul, this is seen as a crucial opportunity to expand its domestic capabilities and access international nuclear fuel supplies.

However, Washington may envision a long-term negotiation process that strengthens the current “123 Agreement,” which will not expire until 2035, and stresses the necessity of continuing the commitment to the non-proliferation of nuclear weapons.

With increasing demand for conventional and advanced nuclear fuel, Washington and Seoul have a clear opportunity to expand industrial partnerships in the near term.

Amid these shifts in the global market for nuclear fuel supplies, progress in improving conventional reactors and fourth-generation nuclear reactor designs is leading to a diversification of new and improved nuclear fuel types. Traditionally, large-scale nuclear reactors have relied primarily on low-enriched uranium (less than 5%). Advanced nuclear reactors, such as small modular nuclear reactors, will require new and diverse types of nuclear fuel. About “National Interest”

• Geopolitical pressures pushed South Korea to search internally for solutions to its energy crisis.

• Seoul must obtain prior approval from Washington to enrich uranium, under the Nuclear Energy Cooperation Agreement.