President Yoon Suk Yeol waves after delivering a congratulatory speech at a ceremony in Uljin County, North Gyeongsang Province, Oct. 30, marking the completion of Shin Hanul nuclear reactors No. 1 and 2 as well as the commencement of construction for reactors No. 3 and 4. Courtesy of the Presidential Office

Key energy development projects led by President Yoon Suk Yeol face an uncertain future following the National Assembly's vote on Saturday to impeach him over his martial law order.

Although Minister of Trade, Industry and Energy Ahn Duk-geun remains in office, speculation is mounting that Yoon's political absence could jeopardize key initiatives, including a maritime gas field development project, the expansion of domestic nuclear power plants and a bid to construct nuclear reactors in the Czech Republic.

Amid these unexpected circumstances, the government is scrambling to keep the momentum going, while state-run companies in charge of these respective projects are downplaying concerns.

The political upheaval is expected to put the brakes on the government's 11th Basic Plan for Long-Term Electricity Supply and Demand, released in May, which requires the Assembly's approval to proceed. The plan outlines the country's power supply strategy for the next 15 years, including the introduction of three new nuclear reactors and four small modular reactors. Before the impeachment of Yoon, the ministry had intended to launch the site selection process for the reactors following the plan's anticipated approval earlier this month.

Opposition parties, including the Democratic Party of Korea, which holds 170 of the 300 seats in the National Assembly, have criticized the plan for its limited focus on renewable energy, aside from nuclear power. As a result, the plan's passage is likely to be delayed and may require revisions.

The leadership vacuum has also cast doubts on Korea Hydro & Nuclear Power's (KHNP) ongoing bid to construct two nuclear power reactors in the Czech Republic. Although the state-run company was named the preferred bidder in July after beating the U.S.' Westinghouse Electric Co. and France's EDF — there are whispers that Yoon's absence may jeopardize the finalization of the bilateral deal, scheduled for March 2025.

The West Capella gas reserve driller is docked in Busan, Dec. 9. The vessel plans to drill and search for gas reserves in Korea's southeast sea. Yonhap

Conjecture persists despite the Czech government and CEZ Group confirming last week that the bilateral deal will proceed as planned. The confirmation came after Yoon's controversial declaration of martial law on Dec. 3.

The KHNP said on Sunday that Korea's ongoing political situation does not pose a risk to the Seoul-Prague energy deal.

"The process leading up to the deal's scheduled finalization is proceeding as planned. This prospect is also shared by our Czech counterparts. Yoon's impeachment has raised concerns among our partners but there is nothing beyond that," a KHNP official said.

"I've also heard that the nuclear power sector in France is facing challenges due to the country's political situation."

Regarding speculation that Yoon's actions may have cost the KHNP political support for a rumored deal with Westinghouse, which would involve providing the American company with projects worth trillions of won in exchange for a future energy partnership, the KHNP declined to comment.

"That matter is currently under legal dispute, so we cannot confirm anything at this point," an official said.

The Great Whale gas field development project in the country's southeastern sea is facing an increased risk of being halted. Led by the Korea National Oil Corp. (KNOC), the project has come under criticism from opposition parties, which argue that there is insufficient evidence of gas reserves to justify the investment.

A drillship is currently docked in Busan awaiting the project's first drill, scheduled for Tuesday. Earlier this month, the Assembly slashed the government's 49.7 billion won ($35 million) budget allocated for the first drilling attempt, projected to cost 100 billion won. The cut left the KNOC solely responsible for financing the task. The government and the KNOC had previously announced that at least five drilling attempts would be made to locate a viable gas reserve.

The KNOC declined to provide any comment to The Korea Times regarding the potential impact of Yoon's impeachment on the project.