South Korea's Pohang to Build Core Component Factory for Small Modular Reactors

The city of Pohang and North Gyeongsang Province recently signed a memorandum of understanding with Hyundai Heavy Industries Turbomachinery Co., Ltd. to build a large-scale production plant for eco-friendly turbomachinery and core components for small modular reactors (SMRs) at the fourth comprehensive industrial complex in Pohang's Yeongil Bay, with an investment of approximately 100 billion KRW.

Under the agreement, Hyundai Heavy Industries Turbomachinery plans to advance the project between 2026 and 2029, constructing related production facilities on a 101,128-square-meter site within the complex. Upon completion, the project is expected to create approximately 100 new jobs and drive the development of the local manufacturing and energy equipment industries.

Hyundai Heavy Industries Turbomachinery, a subsidiary of the Deoksan Group, was spun off from Hyundai Heavy Industries in 2016 and primarily manufactures turbomachinery equipment such as industrial pumps and compressors, with products applied in power generation, petrochemical, and marine sectors. The new plant in Pohang will focus on producing pumps and compressors for combined-cycle power plants, large nuclear power units, and small modular reactors.

The city of Pohang stated that this project will help expand the local industrial landscape, enabling Pohang to further develop eco-friendly energy equipment manufacturing on the basis of its existing industries in secondary batteries, biomass, and hydrogen energy. If linked with the existing nuclear power industrial infrastructure along the east coast of North Gyeongsang Province, Pohang is expected to become an important production base for materials, components, and equipment related to nuclear power and small modular reactors.

Hyundai Heavy Industries Turbomachinery stated that Pohang possesses well-established industrial infrastructure and an eco-friendly energy industry ecosystem, and the company will leverage this investment to advance the localized production of core equipment for large nuclear power plants and small modular reactors while expanding into global markets. The city of Pohang stated that it will provide the necessary administrative and institutional support for the project's implementation.