SEOUL, South Korea (AP) — South Korea, one of the world's largest nuclear electricity producers, will scrap plans to add nuclear power plants, its president said Monday, signaling a shift in decades of reliance on nuclear energy.

President Moon Jae-in said South Korea will move away from nuclear energy and will not seek to extend the life of existing plants.

He also vowed to cut South Korea's reliance on coal. South Korea will shut 10 old coal power plants and stop building more coal power plants.

"So far South Korea's energy policy pursued cheap prices and efficiency. Cheap production prices...