Contribution of nuclear power to the national economic development in Korea

Abstract

Over the last three decades, nuclear technology development has played a vital role in the socio-economic development of the Republic of Korea. This study, being the first of its kind, focuses on quantifying the actual economic contribution of nuclear technologies to economic development by evaluating the net benefit of the nuclear power with respect to the country's Gross Domestic Product (GDP). An input-output analysis was employed as a methodological approach to analyze inter-industrial economic activities by calculating the industrial value added as a means of the economic contribution during the period of 1980 to 2005. The industrial value added of nuclear technologies was estimated from the construction and operation of nuclear power (backward- linked industrial value added) and from the industrial activities attributed to the electricity generated by the nuclear power (forward- linked industrial value added). It was found that the total net contribution of nuclear technologies as a percentage share of GDP amounted to 2.38% in 2005.