Loan Application for Korea Nuclear Units 7&8

NAPSNet Special Report

Recommended Citation

"Loan Application for Korea Nuclear Units 7&8", NAPSNet FOIA Document Special Reports, September 25, 2012,

Publisher/Sponsor: Korea Electric Company
Supplier: The Export-Import Bank of the United States
Report Date: 9/1/1979
Classification: Declassified

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South Korea experienced rapid economic growth in the 1970s which pushed the nation out of it’s post-war destitution. At the time, the Park Chung-hee administration invested massively in heavy industries and, in order to supply more electricity for the country’s new industries and growing citizenry, Park also invested in nuclear energy.

This 1979 report from the Export-Import Bank of the United States examines the finances, project costs, and benefits of lending capital to two nuclear plants in the southwestern area of South Korea known as Units 7 and 8.

“In addition to the advantage of lower generating costs, the nuclear units are also expected to produce about $6,631 million in net cumulative foreign exchange savings for Korea compared to the oil-fired plants–and $2,528 million in savings compared to the coal-fired plants–through a period from 1986 to 1997.” [page 1-3]

This report was released to the Nautilus Institute under the US Freedom of Information Act (FOIA)

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