Quantitative Cost-Benefit Analysis of Direct Disposal and Pyroprocessing in Korea’s Nuclear Fuel Cycle

Sungki Kim, Jinseop Kim, Dongkeun Cho and Sungsig Bang
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Sungki Kim: Radioactive Waste Disposal Research Division, Korea Atomic Energy Research Institute, 989 Daedeokdaero, Yuseong-gu, Daejeon 305-353, Korea
Jinseop Kim: Radioactive Waste Disposal Research Division, Korea Atomic Energy Research Institute, 989 Daedeokdaero, Yuseong-gu, Daejeon 305-353, Korea
Dongkeun Cho: Radioactive Waste Disposal Research Division, Korea Atomic Energy Research Institute, 989 Daedeokdaero, Yuseong-gu, Daejeon 305-353, Korea
Sungsig Bang: Department of Business and Technology Management, Korea Advanced Institute of Science and Technology, 291 Daehak-ro, Yuseong-gu, Daejeon 305-701, Korea

Sustainability, 2021, vol. 13, issue 14, 1-15

Abstract: The purpose of this study is to compare the economic viability of direct disposal and pyroprocessing. This is because the selection of an alternative cannot be justified without a guarantee of economic feasibility. This paper sets the KRS (Korea Reference System) spent fuel repository and KAPF+ (Korea Advanced Pyroprocess Facility plus) as the cost objects, administers a cost-benefit analysis, and presents the results on the net cost. The results of the calculation demonstrate that the net costs of direct disposal and pyroprocessing are USD 17,719,319,040 and USD 19,329,252,755, respectively. The difference in the net cost for the two alternatives is thus not insignificant. However, the economic viability of direct disposal was found to be superior compared to that of pyroprocessing. In the end, it was found that the operating and maintenance cost of a pyroprocessing facility is comparatively high. Accordingly, direct disposal costs less than pyroprocessing. The direct disposal option is advantageous in terms of economical nuclear power sustainability.

Keywords: cost-benefit analysis; direct disposal; pyroprocess; nuclear power sustainability; economic viability; KRS; KAPF+; capital investment (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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