Former Trade, Industry and Energy Minister Paik Un-kyu, who oversaw the decision to shut down the Wolsong-1 nuclear reactor, refuted the state audit agency’s announcement that the government underestimated the economic value of keeping the reactor in place. 

Speaking with Yonhap News Agency on Tuesday, Paik said the Board of Audit and Inspection conducted its economic feasibility study of the nation’s second-oldest reactor only based on accounting records, but should have also taken into account social costs. 

Emphasizing “reasonable” safety concerns behind closing down the reactor which first went into operation in 1982, the former minister said safety and economic feasibility should be considered together for a proper evaluation. 

Paik also rebutted the auditor’s conclusion that he had already decided to shut down the reactor even before the feasibility study came out and intervened in the study process. 

He denied the alleged intervention, claiming the decision was made through a democratic process and based on discussions among working-level officials.