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Market structure of the nuclear power industry in Korea and incentives of major firms

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Frame of Image 38 * We are grateful to the KDI School of Public Policy and Management for providing financial support.
Market Structure of the Nuclear Power Industry in Korea and Incentives of Major Firms
Ilchong Nam 1. Introduction The first nuclear power plant in Korea started operation in 1978. It was built by a turnkey contract between a U.S. vendor, Combustion Engineering, and the Korean government as Korea had no firm that had any experience with nuclear power generation. In the next 35 years, Korea built and operated a large nuclear fleet that produces around 40% of all electricity generated along with the network of a large number of firms that supply goods and services in the upstream and downstream of nuclear power generation. The successful development of the nuclear power industry in Korea culminated in the export of 4 nuclear power plants in United Arab Emirates in 2009. What happened in the nuclear power industry in Korea since 2009 contrasts drastically with the success it had boasted. A seemingly endless string of procurement scandals broke out to reveal that the industry has suffered from a total failure in its system of testing and certifying parts and equipment used in nuclear reactors as a result of widespread corruption. The failure in the procurement system of Korea Hydro and Nuclear Corporation (henceforth KHNC) raised concerns about not only safety but efficiency as well. One possible explanation is the monopsony of KHNC in the market for goods and services that are


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Title Market structure of the nuclear power industry in Korea and incentives of major firms
Similar Titles
Material Type Reports
Author(English)

Nam, Ilchong

Publisher

[Sejong, Korea]:KDI School of Public Policy and Management

Date 2013-12
Series Title; No Working paper / 13-10
Pages 35
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic System
Industry and Technology < Energy
Holding KDI School of Public Policy and Management