Japan's Nuclear Revival: Led By South Korea

Fifteen years after Fukushima, Japan's nuclear power plants are gradually coming back online, albeit with facelifts and internal modifications. In 2012, all nuclear plants were shut down. Today almost 15 plants are once again operational. And young Japanese with limited memories who are focused on green energy solutions are embracing nuclear energy.

Bloomberg has just come out with a well-researched article that mentions Japan's nuclear revival but notes it is South Korea that stands to lead the sector with over 40% global market share of plant construction. (https://www.bloomberg.com/news/features/2025-05-14/south-korea-nuclear-energy-is-leading-the-industry-comeback)

Over the past decades, South Korean companies have quietly been designing, building and managing 26 nuclear plants in South Korea but effectively also taking global market share in the sector and doing so on time and on budget. Western nations like the USA, France and the UK are also players but have a history of doing so late and way over budget. No surprise there.

What was surprising is to learn that Japanese and South Korean companies are collaborating on various energy projects, including advanced nuclear reactor technologies and rare earth magnet supply chains. As they share many of the same cultural and social components, it is easy to explain why they will surely succeed. Hierarchy, loyalty, efficiency, groupism, and diligence - things that are inculcated from birth - aid in the process.

Japan has attempted to share its business acumen in the West for decades. Toyota comes to mind. But one doubts how easily this has been achieved or can be attained systematically. I know from living in Japan for forty years that it is a lot easier to accept and adapt to cultural norms if one lives in a country long-term. How can this be done with people who never live in Japan? It isn't easy.

Look for South Korea to continue to take market share. Also look for Japan's nuclear sector to rebound steadily. But I wouldn't count on South Korean companies changing their business model. If it's not broken, don't fix it. And one can only hope that Japan has learned it is not wise to build nuclear power plants near earthquake faults or put backup generators in the basement level where flooding can occur from Tsunami. Oh, that's right, it was GE that designed those plants. I stand corrected.