[THE INVESTOR] Korea will draw out a long-term energy plan that aims to reduce its high dependence on nuclear and coal power and expands the portion of renewable sources in the next 22 years, the Energy Ministry said on March 19.

The ministry said a working group composed of government and industry officials, as well as civilian experts, held its first meeting to discuss the third basic energy plan for the years 2019-2040.

The government draws the long-term energy policy every five years based on recommendations from the working group.

The basic energy plan will be expansion of the energy transformation roadmap announced last year, which aims to increase the portion of renewable energy from the current 7 percent to 20 percent by 2030 and steadily phase out aged nuclear reactors.

President Moon Jae-in has vowed to move away from nuclear power to keep pace with the changing energy environment and growing safety concerns following the 2011 Fukushima nuclear disaster in Japan, and a series of strong earthquakes that hit the nation’s southeastern region over the past two years.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)