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New South Korean President Seen Hindering Nuclear Ambitions

  • Moon Jae-in campaigned to block new reactor construction
  • Kepco shares fell 5.8% on May 10 following election results
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Nomura's Na Calls Moon's Election Very Good News

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Playing on concerns about the safety of nuclear power in the wake of Japan’s Fukushima disaster in 2011, South Korea’s Moon Jae-in promised during his successful presidential campaign to scrap or suspend new atomic plants.

Now that Moon is president, that anti-nuclear stance is seen as a threat to South Korea’s ambitions to become a bigger exporter of nuclear equipment and technology -- a market valued at as much as $740 billion over the next 10 years.