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South Korea Plans to Increase R&D Investment in Nuclear Fusion and Small Modular Reactors

South Korea's Ministry of Science and ICT (MSIT) stated on September 1 that in the 2027 government budget proposal approved at a Cabinet meeting, the ministry's budget amounts to 29.6476 trillion Korean won, an increase of 24.5% compared to this year's supplementary budget. Of this, the R&D budget is planned to increase from 11.9 trillion won this year to 14.1 trillion won, accounting for 36% of the South Korean government's total R&D budget. In the science and technology sector, MSIT plans to invest 12.377 trillion won in R&D related to next-generation artificial intelligence and advanced technologies. In explaining the budget proposal, the ministry's First Vice Minister stated that in response to the growing electricity demand driven by AI development, South Korea will accelerate the development of future clean energy sources such as small modular reactors (SMRs) and nuclear fusion...

2026-09-02

Japan's Kyoto Fusioneering Secures Series D Funding Led by Korea-Japan Fusion Fund

IMM Investment Japan (IMMJ) announced on September 1 that it has led the Series D funding round for Kyoto Fusioneering, a Japanese fusion energy company. The investment was made through the Korea-Japan Fusion Fund, established jointly by Korean and Japanese investors. The fund, initiated by IMMJ, is positioned as a cross-border project fund designed to connect the capital and industrial networks of major Korean corporations with Japan's cutting-edge technology companies. Investors participating in the fund include POSCO Holdings, POSCO International, Doosan, Hyundai Motor, and GS...

2026-09-01

Signed Article by Liu Mingsheng, Chairman and Party Secretary of State Power Investment Corporation (SPIC)

Seizing the High Ground of Future Energy, Accelerating the Pace of Green Transformation Liu Mingsheng, Chairman and Party Secretary of State Power Investment Corporation (SPIC) At present, a new round of technological revolution is converging historically with the green, low-carbon transformation of energy, and future industries are becoming a strategic battleground for reshaping the global competitive landscape. General Secretary Xi Jinping's series of important remarks on future industries, made from the strategic height of advancing the building of a strong nation and the great cause of national rejuvenation, provide important guidance for developing future industries, building a modern industrial system, and grasping the initiative in development. As the world's largest clean energy power generation enterprise, SPIC has always regarded the development of future industries as a strategic lever for safeguarding the nation's long-term energy security and winning the initiative in development...

2026-08-31

China Isotope & Radiation Plans to Invest RMB 400 Million in Zhejiang Nuclear Technology Application Industry Fund

China Isotope & Radiation Corporation announced on August 28 that its board of directors has approved entering into a partnership agreement with CNNC, CNNC Capital, CNNC Fund, National Industry Investment Fund, Zhejiang Venture Capital Guidance Fund, Jiaxing Changchuang Industrial Investment, and Haiyan County State-owned Capital Investment to jointly establish CNNC (Zhejiang) Nuclear Technology Application Industry Investment Fund Partnership (Limited Partnership). According to the announcement, the fund will be registered in Jiaxing City, Zhejiang Province, with partners intending to subscribe to a total capital contribution of RMB 3 billion. Among them, China Isotope & Radiation plans to contribute RMB 400 million from internal resources, accounting for 13.33% of the fund's total subscribed capital; CNNC Fund, as the general partner, plans to contribute RMB 30 million, accounting for 1%; the National...

2026-08-29

Bristol Myers Squibb to Invest $173 Million in New Radiopharmaceutical Plant in Indiana, USA

Bristol Myers Squibb's RayzeBio will build a new radiopharmaceutical production facility in Whitestown, Indiana, USA, with an investment of $173 million. The project will be located at the Anson Industrial Park in Boone County, with construction planned to begin this year, complementing RayzeBio's existing operational radiopharmaceutical plant in Indianapolis. According to information released by the state of Indiana, the new facility will cover approximately 225,000 square feet. Bristol Myers Squibb expects the two production sites to add 100 new positions by the end of 2029, with annual salaries for new positions expected to exceed $130,000. Bristol Myers Squibb acquired San Diego-based RayzeBio in 2023 for $4.1 billion...

2026-08-28

India's Draft Nuclear Regulations May Affect Foreign Reactor Technology Introduction

A draft nuclear regulatory framework in India could introduce new uncertainty to its nuclear power expansion plans. Multiple industry insiders and legal experts believe that the draft's additional approval requirements for imported reactors may push companies toward domestic technology and delay the entry of foreign capital and advanced reactor technology into the Indian market. India passed a new nuclear energy law last year, allowing private enterprises to enter the nuclear power sector, which had long been strictly controlled by the state, and is attempting to expand nuclear power capacity by introducing foreign technology and investment. India plans to increase its nuclear power installed capacity nearly tenfold over the next two decades to 100 gigawatts, with estimated investment needs approaching $210 billion. The target is seen as...

2026-08-28

South Korea's POSCO Group Invests in Japanese Fusion Company Kyoto Fusion Engineering

South Korea's POSCO Group has invested in Japanese fusion energy company Kyoto Fusion Engineering (KF) to establish an early presence in the global fusion energy market and explore new business opportunities in future steel, specialty materials, and energy infrastructure. According to industry sources on the 27th, POSCO Group participated in Kyoto Fusion Engineering's Series D funding round. The investment was made through the Korea-Japan Fusion Fund, established by IMM Investment Japan (IMMJ) together with Korean and Japanese investors. POSCO Holdings and POSCO International also contributed to the fund...

2026-08-27

Liaoning Zhuanghe Nuclear Power Enters Construction Preparation Phase, Expected to Complete 2 Billion Yuan in Project Investment by Year-End

On August 22, 85 heavy and light engineering machinery units entered the site simultaneously to carry out topsoil clearing work on 179,000 square meters of land, marking the official entry of the Liaoning Zhuanghe nuclear power project into the construction preparation phase. Rendering of the Liaoning Zhuanghe nuclear power project. The Liaoning Zhuanghe nuclear power project is the first nuclear power project in Northeast China to adopt the Hualong One, China's self-developed third-generation nuclear power technology. The project plans to build six million-kilowatt-class nuclear power units in three phases, with a total investment of approximately 125 billion yuan. The first phase will construct two units with a total investment of approximately 44.56 billion yuan. It was approved at the executive meeting of the State Council on July 31, received formal approval from the National Development and Reform Commission on August 13, and obtained the advance land use approval from the Liaoning Provincial Department of Natural Resources on August 20, meeting the legal conditions for land construction.

2026-08-25

South Korea denies rumors of joint investment with U.S. in Westinghouse Electric

In response to external claims that the United States proposed South Korea jointly invest in Westinghouse Electric Company, the South Korean government recently responded, stating that such claims are not true. According to a South Korean government source revealed on August 24, the Ministry of Trade, Industry and Energy (MOTIE) and Korea Electric Power Corporation (KEPCO) were reportedly evaluating a plan to jointly acquire a partial stake in Westinghouse Electric Company (WEC) with the U.S. government. The related claims stated that the investment scale and shareholding ratio had not yet been determined, and the plan might involve establishing a special purpose vehicle through joint South Korea-U.S. funding to acquire shares and participate in subsequent U.S. nuclear power plant construction projects.

2026-08-25

Japan's GX Promotion Organization Invests in Nuclear Fusion Startups

Japan's Green Transformation Promotion Organization (GX Promotion Organization) has invested in two startups, focusing on nuclear fusion-related technology and plastic recycling businesses respectively. The public funds invested are expected to be approximately 3 billion yen; when private sector funds are included, the total related investment is expected to reach approximately 20 billion yen. The two companies are Kyoto Fusioneering and JEPLAN. Among them, Kyoto Fusioneering is primarily engaged in the development of nuclear fusion engineering technology, while JEPLAN is involved in circular economy businesses such as plastic recycling. Details of the investment are expected to be officially announced by the relevant parties. This investment is seen as part of Japan's push to industrialize its green transformation.

2026-08-24

Li Qiang Chairs State Council Executive Meeting, Approves the "Regulations on Emergency Response and Investigation Handling of Electric Power Safety Accidents (Revised Draft)" and Others

On August 21, Premier Li Qiang of the State Council chaired an executive meeting of the State Council, which heard a report on the construction of the new-generation communication network, made arrangements for further clearing overdue payments owed to enterprises, studied efforts to continuously improve air quality, and reviewed and approved the "Regulations on Emergency Response and Investigation Handling of Electric Power Safety Accidents (Revised Draft)" and the "Regulations on Market Supervision and Administration Offices (Draft)". The meeting noted that it is necessary to actively adapt to the trends of the new round of technological revolution and industrial transformation, firmly seize the opportunities presented by the construction of the new-generation communication network, adhere to application-driven and appropriately forward-looking development, coordinate the construction of basic networks, space networks, international networks, and integrated networks, and consolidate and enhance the competitive advantages of China's information and communication industry. It is necessary to...

2026-08-22

Investigation Underway into Cause of External Power Supply Interruption at Zaporizhzhia Nuclear Power Plant

On August 20, Chernichuk, the head of the Zaporizhzhia Nuclear Power Plant, stated that the cause of the external power supply interruption at the plant is still under investigation, with relevant experts inspecting transmission lines to identify possible fault points. Chernichuk noted that the specific cause and location of the line damage remain unclear. Experts from the plant are conducting inspections along the lines to locate the fault; according to Ukrainian sources, their experts are also carrying out related inspection work. Earlier, the Zaporizhzhia Nuclear Power Plant reported that due to the interruption of the external power supply line, the plant switched to the backup power supply system on the morning of the 20th and activated diesel generators. The report also stated that the 330 kV high-voltage transmission line "Ferroalloy-1" was disconnected from the Zaporizhzhia Nuclear Power Plant due to damage...

2026-08-21

Vattenfall plans to invest SEK 10 billion in Swedish nuclear maintenance and uprating over five years

European energy company Vattenfall plans to invest SEK 165 billion by 2030, focusing on maintenance and development of existing power assets, new fossil-free power generation projects, and grid modernization. Sweden is the core market for this investment round, with approximately SEK 10 billion allocated to nuclear maintenance and power uprating. Vattenfall currently operates five nuclear reactors in Sweden, including two at Ringhals Nuclear Power Plant and three at Forsmark Nuclear Power Plant. These units have been in operation for approximately 40 years. The company stated that routine inspections lasting several weeks are conducted annually on these units to ensure safe and stable operation of the nuclear power plants and to fulfill power generation targets as planned.

2026-08-19

Investigation into Automatic Shutdown of Unit 3 at Japan's Ohi Nuclear Power Plant: Damage Found in Exciter Rotating Rectifier

Kansai Electric Power reported on August 19 that Unit 3 of the Ohi Nuclear Power Plant experienced an automatic generator trip triggered by a generator loss-of-field alarm at 23:56 on August 8, followed by an automatic reactor shutdown. At the time of the event, the unit was operating stably at rated thermal power. The company stated that the event caused no radiological impact on the environment. The loss-of-field alarm is used to indicate an abnormal state in the magnetic field generated inside the generator. Following the incident, Kansai Electric conducted on-site inspections of equipment related to generator magnetic field establishment, including the generator, exciter, and automatic voltage regulator (AVR). Among these, the exciter is used to establish the magnetic field for the generator...

2026-08-19

Automatic Shutdown of Unit 4 at South Korea's Hanul Nuclear Power Plant, Regulator Launches Investigation

The Nuclear Safety and Security Commission (NSSC) of South Korea reported on August 19 that Korea Hydro & Nuclear Power Co., Ltd. (KHNP) had reported the same day that Unit 4 of the Hanul Nuclear Power Plant, located in Uljin County, North Gyeongsang Province, automatically shut down at approximately 8:50 a.m. The NSSC stated that Unit 4 of the Hanul Nuclear Power Plant is currently in a stable condition. No abnormal alarms were triggered by on-site radiation monitors, and no leakage of radioactive materials to the outside environment has been detected. According to the notification, the NSSC's regional office for the Hanul Nuclear Power Plant is conducting inspections of on-site safety conditions. The regulatory body also plans to dispatch an investigation team comprising experts from the Korea Institute of Nuclear Safety (KINS) to the site to further confirm the cause of the automatic shutdown and related safety conditions.

2026-08-19