S.Korea may build 9 new nuclear reactors by 2030

SEOUL (Reuters) - South Korea may build more than nine new nuclear power reactors by 2030, raising the ratio of nuclear power use to 55 percent from the current 37 percent, the Yonhap news agency reported on Sunday.

The plan comes as part of the government's effort to cope with skyrocketing oil prices and other costs of producing energy, Yonhap cited the Ministry of Knowledge and Economy as saying.

South Korea has 20 commercial nuclear power generators in operation, and eight under construction to be completed by 2016.

The plan will be finalised at a meeting scheduled for June 26, chaired by President Lee Myung-bak, Yonhap reported.

The ministry was not immediately available for comment.

The Korea International Trade Association (KITA) said earlier in the day that South Korea is likely to import 900 million barrels of crude this year, up 3.1 percent from 873 million barrels in 2007.

The average import price is predicted to reach $97 a barrel this year, up 42.4 percent from a year ago, according to a report by KITA.

(Reporting by Angela Moon; Editing by Kim Coghill)