"Woojin Entec Expected to Benefit from Growing Nuclear Maintenance and Decommissioning Market" [Click e-Stock]

On June 16, KB Securities evaluated Woojin Entec, noting that the completion of new domestic nuclear power facility projects is progressing in succession, with mid- to long-term capacity expansions underway and the nuclear power plant decommissioning market expected to become more active.

Hyejeong Jung, a researcher at KB Securities, stated in a report the same day, "With the ongoing completion of new nuclear power facilities in Korea, further mid- to long-term expansion is expected, and the timing for the opening of the nuclear power plant decommissioning market is approaching." She added, "Woojin Entec is responsible for commissioning and maintenance of Saeul Units 3 and 4, which are scheduled for completion in 2026–2027. In addition, the plans for Shin Hanul Units 3 and 4, along with two additional new nuclear plants included in the 11th Basic Plan for Long-term Electricity Supply and Demand, remain valid, so the scope of regular and preventive maintenance is expected to expand." She continued, "Approval for decommissioning of the permanently shut down Kori Unit 1 was granted in June last year, and the market is gradually opening up with decontamination work already underway. Woojin Entec, which is developing monitoring and measurement systems for decommissioning, is expected to expand its presence in this field."

Woojin Entec, established in 2013, specializes in maintenance of instrumentation and control equipment for nuclear and thermal power plants, providing regular and preventive maintenance services, as well as supplying nuclear power systems and components. In the first quarter of this year, nuclear power plant maintenance accounted for 55.9% of its sales, thermal power plant maintenance for 37.9%, and product sales for 6.2%. Its main shareholder, Woojin, holds a 40.78% stake.

Kori Unit 1, which was permanently shut down in 2017, received final approval for its decommissioning plan from the Nuclear Safety and Security Commission in June 2025 and has entered full-scale dismantling procedures. Starting with the equipment inside the turbine building, dismantling will proceed sequentially, with the goal of removing spent nuclear fuel by 2031, followed by dismantling of radioactive systems, and completing the decommissioning by 2037. Currently, decontamination work is underway.

Researcher Jung analyzed, "Since 2023, Woojin Entec has been selected as the implementing company for a national R&D project on nuclear power plant decommissioning technology, promoted by government-related agencies. The company is developing a mobile 3D image monitoring system, a measurement and verification system for decommissioning waste, and a surface contamination measurement system. If this year's research project is successfully completed, Woojin Entec is expected to enter the Kori Unit 1 decommissioning project as well."

This content was produced with the assistance of AI translation services.