South Korea approves $7 billion reactor plans in boost for nuclear power

SEOUL (Reuters) - South Korea approved on Wednesday a $7 billion project to build two nuclear plants, a boost for an industry struggling to emerge from the shadow of Japan's Fukushima disaster and the first approval since a policy review sparked by a safety scandal at domestic reactors.

The greenlight for the plants comes only two weeks after Asia's fourth-largest economy announced a policy shift to cut its reliance on nuclear power to 29 percent of total power supply by 2035, down from a planned 41 percent by 2030.