South Korea resumes construction of Shin Kori reactors 5 and 6

Despite the public's vote to resume the construction for Shin-Kori 5 and 6 nuclear reactors, the longer term outlook for nuclear remains uncertain. After the vote, President Moon again reiterated he will keep his election promise to gradually phase out nuclear, decrease coal generation and increase the share of LNG and renewable. While we continue to see upside for LNG and downside for coal, Wood Mackenzie has been cautious about making assumptions of major energy policy shifts on the basis of election promises. As such the announcement will not lead to a significant revision of our H1 2017 coal or LNG demand outlook.