South Korea: Regulators increase liability limit for nuclear accident
Posted On: Dec. 15, 2014 12:00 AM CSTSouth Korea-based Korea Hydro & Nuclear Power Co. Ltd. would have to purchase a $2 billion nuclear liability cover following a revision in the country's Nuclear Liability Act, reported World Nuclear News.
KHNP would have to insure each of its five nuclear power plant sites.
South Korea's Nuclear Safety and Security Commission is to increase the nuclear liability insurance amount to 500 billion Korean won ($450 million) for each site from KRW 50 billion ($45 million), with effect from July 1, 2015.