The Impact of Nuclear Power Plant Hazards on Land Prices

There is a global movement to use nuclear energy as a carbon-neutral way to mitigate climate change. In addition, the war between Russia and Ukraine that broke out in 2022 has raised global awareness of energy security. Korea has a significant number of nuclear power plants, with 25 nuclear reactors, about 6 per cent of the world's operating and shutdown reactors, and nuclear energy accounts for about 30.4 per cent of electricity generation. However, the Fukushima Daiichi accident has shown that although the probability of a nuclear power plant disaster is low, the scale of the damage is significant, and the damage to the land and property of people living near nuclear power plants is astronomical. Therefore, this study uses the difference-in-differences method to analyse the impact of the hazard of nuclear power plant disasters on land prices in the vicinity of nuclear power plants through empirical analysis. The results show that the hazard of nuclear power plant disasters has a negative impact on land prices in the vicinity of nuclear power plants.