South Korea targets mid-2030s launch of first nuclear-powered submarine to counter North Korea threats

South Korea will seek to launch its first nuclear-powered submarine by the mid-2030s, using low-enriched uranium fuel and developed and built domestically, Defense Minister Ahn Gyu-back said.

The submarine will draw on South Korea's nuclear, shipbuilding, and defense industries while the country maintains its commitment not to acquire or develop nuclear weapons. South Korea will work with the United States and the International Atomic Energy Agency on securing fuel to ensure nonproliferation.

Nuclear propulsion will enable the new submarines to stay underwater far longer and ensure greater mobility than existing South Korean submarines. Shares in shipbuilders Hanwha Ocean and HD Hyundai Heavy rose 10.2% and 9.6%, respectively, following the announcement.