Despite opposition from environmentalists, South Korea has officially announced that nuclear energy will be added to the government's list of labeled green economic activities.  

The Ministry of Environment released a revised draft of the national Green classification guidelines on Tuesday.  The classification system was first announced by the previous Moon Jae-in administration in December as a tool to promote environmentally sustainable investments and help achieve the national goal of carbon neutrality.  Nine months later, the ministry revised non-binding guidelines to include atomic power in green financing.  

The so-called K-taxonomy defines whether certain economic activities are environmentally friendly.  Some banks participating in the pilot program offer low-interest loans for activities labeled green.  

The system consists of two categories - the truly green sector and the transitional sector.  The green section will include a variety of nuclear technologies and projects, including small modular reactors, next-generation nuclear power plants that minimize radioactive waste, disaster tolerant fuels, radioactive waste management, and research to improve nuclear safety and facility reliability.  Construction of new nuclear power plants and improvements to aging reactors to extend operations will be added to the transitional category, the ministry said.  

But to qualify for the label, the construction and life extension of nuclear plants must be approved by 2045, and they must meet a series of standards on nuclear waste disposal, greenhouse gas emissions and the use of advanced technologies and fuels.  

Since the inauguration of President Yoon Seok-yeol in May, there has been widespread expectation that nuclear energy will be classified as a green resource.  He promised to revive the atomic industry to ensure energy security and reduce carbon emissions, reversing his predecessor's policy of phasing out nuclear power.  Environmentalists, concerned about nuclear accidents and the danger of radioactive waste, have denounced the classification revisions to greenwashing and vowed to fight the pro-nuclear policies of conservative leaders.  

Critics also say the government did not adequately gather public opinion before drafting the amendments.  

The ministry said it would draw up a final plan reflecting various views, but the inclusion of nuclear power was unchanged.