South Korea Designates SMR and MMR as National Strategic Technologies; South Gyeongsang Province Says It Will Promote Transition of Nuclear Power Companies

South Gyeongsang Province said on August 4 that it welcomes the South Korean government's designation of Small Modular Reactors (SMR) and Micro Modular Reactors (MMR) as national strategic technologies in the 2026 tax reform plan.

Under the relevant arrangement, the South Korean government will revise the Special Tax Treatment Control Act and its enforcement decree to include industries related to small modular reactors of 300 MW or less and micro modular reactors of 20 to 30 MW class within the scope of national strategic technologies. Going forward, companies conducting R&D on SMR and MMR technologies or investing in related facilities will be eligible for higher tax credits for R&D and facility investment.

South Gyeongsang Province believes that this policy will provide an opportunity for local nuclear power companies to transition into the SMR manufacturing sector and will help accelerate technology development and facility investment.

SMR and MMR are regarded as one of the next-generation nuclear energy technology pathways. Compared with traditional large-scale nuclear power units, these reactors emphasize integrated design and factory-based manufacturing, aiming to shorten construction periods and reduce construction costs to a certain extent. Currently, multiple countries are advancing related technology R&D and industrial deployment.

South Gyeongsang Province is an important hub for South Korea's nuclear power manufacturing industry, with approximately 240 nuclear power-related companies in the region. Among them, Doosan Enerbility, located in the Changwon National Industrial Complex, is a major South Korean nuclear power equipment manufacturer and one of the companies in South Korea capable of producing key components for nuclear power plants. South Gyeongsang Province stated that the local nuclear power manufacturing base is relatively complete and possesses the industrial conditions to accommodate SMR and MMR manufacturing demand.