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HD Hyundai Chairman to Meet Bill Gates to Advance SMR Cooperation

HD Hyundai Chairman Chung Ki-sun will meet Bill Gates, who is visiting South Korea, on August 14, with the two sides planning discussions on cooperation in small modular reactors (SMRs). Gates, co-founder of Microsoft, also serves as chairman of TerraPower, a U.S. small modular reactor company. This will be the latest round of communication between Chung and Gates on related cooperation, following their meeting earlier this year at the Davos Forum in Switzerland. HD Hyundai and TerraPower have been steadily strengthening cooperation in SMR and advanced reactor manufacturing in recent years. In November 2022, HD Korea Shipbuilding & Marine Engineering invested $30 million in TerraPower. In December 2024, HD Hyundai secured an order to manufacture the reactor vessel for TerraPower's 345 MW sodium-cooled fast reactor (SFR) to be built in Wyoming, U.S.

2026-08-13

India's Bihar signs memorandum of understanding for $2.3 billion small modular reactor project

The government of Bihar, India recently signed investment memorandums of understanding totaling approximately $6 billion (about €5.2 billion) with several industrial enterprises, covering sectors such as steel, textiles, food processing, pharmaceuticals, and nuclear energy. Among these, the nuclear energy project investment amounts to approximately $2.3 billion, making it the largest investment proposal among the signed agreements. According to a statement issued by the office of Bihar Chief Minister Samrat Choudhary, Global Renewable Advanced Clean Energy, a recently registered company headquartered in Hyderabad in central India, signed the nuclear energy memorandum of understanding. Further details...

2026-08-12

South Korea Designates Small Modular Reactors and Nuclear Fusion as Key Future Growth Technologies

South Korean President Lee Jae-myung will chair a briefing session on the "Seven Seeds for Future Growth Engines" at the presidential office Cheong Wa Dae on the afternoon of August 12, focusing on the development pathways for advanced technologies including Small Modular Reactors (SMRs) and nuclear fusion, as well as related industrial ecosystems and supply chain security measures. According to Cheong Wa Dae, the meeting aims to jointly study advanced technology deployment with the science and industry communities, support artificial intelligence (AI) transformation, and strengthen South Korea's future industrial foundation capabilities. The seven areas designated as priorities include Small Modular Reactors, nuclear fusion, renewable energy, quantum technology, aerospace, advanced biotechnology, and advanced materials and component supply chains....

2026-08-12

South Korea and Sweden Discuss Cooperation on High-Level Waste Disposal and SMR Regulation

The Nuclear Safety and Security Commission (NSSC) of South Korea announced on August 10 that it held a bilateral meeting with the Swedish Radiation Safety Authority (SSM) in Seoul, during which the two sides exchanged views on topics including high-level radioactive waste management, nuclear safety regulation, and the development of small modular reactors (SMRs). Sweden has accumulated strong technical expertise in the field of radioactive waste management and has developed a relatively mature technical system for high-level radioactive waste disposal. Currently, Sweden has 6 operating nuclear power units and 7 permanently shut down units, 6 of which are in the decommissioning phase. Following Finland, Sweden is constructing the world's second deep geological disposal facility for high-level radioactive waste. The NSSC of South Korea...

2026-08-10

South Korea Advances K-Moonshot Initiative, Nuclear Fusion and SMR Spacecraft Listed as Key Missions

The South Korean government is accelerating the K-Moonshot initiative, seeking to tackle critical technologies that are difficult to break through via traditional research pathways through a national-level R&D organizational approach. Among these, nuclear fusion and small modular reactor (SMR) spacecraft have been included in 12 key missions, alongside new drug development, quantum technology, and artificial intelligence, all under the government's coordinated promotion. On August 10, Vice Minister Goo Hyuk-chae of the Ministry of Science and ICT (MSIT) met with the heads of the 12 mission projects and representatives of related institutions at the K-Moonshot Project Support Office in Sejong City to discuss next-stage implementation arrangements. The meeting focused on detailing...

2026-08-10

Small Modular Reactors Expected to Contribute One-Quarter of Global New Nuclear Capacity by 2050

According to data compiled by the World Nuclear Association (WNA), global nuclear power installed capacity is expected to reach 1,446 GWe by 2050. This projection is based on the continued operation of existing reactors and the implementation of announced nuclear power development targets by governments. Currently, global installed nuclear capacity stands at approximately 403 GWe. To achieve the above scale, an additional approximately 1,043 GWe of nuclear capacity will need to be added. Among this, Small Modular Reactors (SMRs) are expected to contribute about 260 GWe, accounting for roughly one-quarter of global new nuclear capacity. Factors driving nuclear power expansion are increasing. The rapid adoption of artificial intelligence applications has driven up electricity demand from data centers, and the accelerating electrification of transportation and industrial sectors has further elevated the importance of stable, low-carbon electricity supply. Meanwhile, energy security and net-zero emission targets are prompting more countries to reassess the role of nuclear energy in their energy mix.

2026-08-10

U.S. NRC to Debut Modernized Hearing Process in Advanced Reactor Licensing Review for the First Time

The U.S. Nuclear Regulatory Commission (NRC) will hold a public hearing on August 13 in Oak Ridge, Tennessee, to consider the Tennessee Valley Authority's (TVA) application to build a small modular reactor at the Clinch River site. This will mark the first time the NRC applies its modernized mandatory hearing framework in an advanced reactor licensing review. According to the NRC, the new hearing process is designed to give the public earlier insight into the agency's review of the project's safety and environmental impacts, while improving the transparency, predictability, and efficiency of licensing reviews. As part of its licensing modernization efforts, the NRC currently aims to complete construction permit-related decisions within 18 months. TVA plans to...

2026-08-07

IAEA Publishes Technical Document on Emergency Planning Zones for Small Modular Reactors

The International Atomic Energy Agency (IAEA) has published TECDOC Series No. 2134, "Technical Basis for the Emergency Planning Zone for Small Modular Reactors." The document was published in Vienna in 2026, comprising 132 pages with 11 illustrations, in English. This document marks the first time the IAEA has published the results of a Coordinated Research Project (CRP) on the technical basis for emergency planning zones for Small Modular Reactor (SMR) deployment. The research project was conducted from 2018 to 2021, focusing on how to determine the technical basis for off-site emergency preparedness and response (EPR) arrangements in SMR deployment scenarios, particularly the requirements and scope for establishing emergency planning zones (EPZ).

2026-08-07

US DOE Approves Nuclear Safety Design Agreement for Deep Fission Underground SMR

Deep Fission, a US advanced nuclear energy company, announced on August 6 that the US Department of Energy (DOE) has approved the Nuclear Safety Design Agreement (NSDA) for its Gravity reactor. The company stated that this milestone means its reactor design meets the requirements for continued advancement under the DOE's Reactor Pilot Program. Deep Fission is developing a small modular pressurized water reactor concept, with plans to place the reactor in a borehole approximately 1 mile, or about 1.6 kilometers, underground. The approved Nuclear Safety Design Agreement will serve as the safety framework for subsequent reactor development work. According to the company's plans, the project will proceed into the DOE authorization process...

2026-08-07

Changwon City Advances SMR Industry Support System

Changwon City in South Gyeongsang Province, South Korea, is advancing a local nuclear industry support system centered on Small Modular Reactors (SMRs), and will formulate its first mid-to-long-term nuclear industry plan. Changwon City announced on August 5 that it plans to conduct consulting services for the "Changwon City Nuclear Industry Development Plan (2027–2030)" from October this year to April next year. The project, with a budget of 45 million KRW, will be entrusted to the Changwon Industry Promotion Agency, focusing on systematically supporting the local nuclear industry and improving the relevant institutional framework. The "Changwon City Nuclear Industry Promotion and Support Ordinance," which underpins this effort, was enacted in 2023. South Korea has recently designated SMRs as one of its national strategic directions. In February of last year, the South Korean government proposed in the "11th Basic Plan for Power Supply and Demand" to achieve commercialization of a 0.7 GW-class SMR demonstration unit by 2035. Meanwhile, the "Special Act on SMRs," passed by the National Assembly, is expected to take effect next month. On the 4th, the government also revised the "Special Tax Limitation Act" and its enforcement decree, designating SMRs with an output of 300 MW or less, as well as Micro Modular Reactors (MMRs) of 20–30 MW class and below, as national strategic technologies. In addition to existing projects, Changwon City also plans to conduct research on "Strategy Formulation for an SMR R&D Special Zone" in cooperation with relevant agencies. The city hopes to create synergies with the "Changwon Second National Industrial Complex," which is currently attracting investment, and to promote the establishment of an SMR industry manufacturing hub. Changwon City is home to Doosan Enerbility and its cluster of partner companies, with Doosan Enerbility being one of South Korea's major manufacturers of nuclear power plant key components. In terms of infrastructure, the "Gyeongnam Nuclear Industry Comprehensive Support Center," which provides office space for businesses, broke ground in February of last year and is scheduled for completion in September next year; the "Small Modular Reactor Robot Manufacturing Support Center," which will handle R&D support and workforce training, is planned for completion by December 2028; and the "Small Modular Reactor Manufacturing Parts Testing and Inspection Support Center," which received national funding in April of last year with a budget of 27.4 billion KRW, is currently undergoing conceptual architectural design and is scheduled for completion by December 2029.

2026-08-06

KEPCO E&C seeks government R&D project for offshore SMR "BANDI"

KEPCO E&C is accelerating the development of its proprietary offshore small modular reactor BANDI. Under relevant plans, the company intends to include BANDI in a government R&D project led by the private sector, leveraging national R&D funding to advance standard design, engineering verification, and subsequent commercialization preparation. It is understood that KEPCO E&C is organizing a government R&D initiative for offshore SMRs, with the company aiming to serve as the lead organization to develop a standard design for offshore SMRs applicable to power generation ships and nuclear-powered vessels. The project is currently in the preliminary planning stage, with plans to submit a project proposal and tender documents early next year, and following review, to secure...

2026-08-06

South Korea's Woori Technology Completes KRW 40 Billion Convertible Bond Financing to Bolster Nuclear Power and SMR Businesses

Woori Technology, a South Korean company specializing in nuclear power plant Man-Machine Interface Systems (MMIS) and related instrumentation and control equipment, announced on August 6 that it has decided to issue the 20th series of unregistered, unsecured private convertible bonds (CBs) totaling KRW 40 billion. The raised funds will be primarily used for nuclear power, small modular reactor (SMR), offshore wind power, and resource recycling businesses. The maturity date of these convertible bonds is August 13, 2031, with a conversion price of KRW 10,717 per share. Both the coupon rate and yield to maturity are 0%, which helps the company secure long-term funding for core business investments while controlling financial costs. Woori Technology stated that the raised funds...

2026-08-06

Holtec, Entergy, and Hyundai Engineering & Construction Partner to Evaluate SMR-300 Deployment Opportunities in the Southern United States

On August 4, local time, Holtec International, Entergy Services, LLC, and Hyundai Engineering & Construction Co., Ltd. (HDEC) announced a strategic collaboration to jointly evaluate potential opportunities for deploying Holtec's SMR-300 advanced small modular reactor within Entergy's service territory to power large-load customers. The collaboration is established through a non-binding memorandum of agreement. Under the arrangement, the three parties will conduct assessments around a potential two-unit SMR-300 project, focusing on customer demand,...

2026-08-05

Mitsubishi Heavy Industries to Fully Develop Small Modular Reactors, Targeting Commercialization in Japan

Against the backdrop of the Japanese government's push to expand nuclear energy utilization, Mitsubishi Heavy Industries has decided to proceed with full-scale development of Small Modular Reactors (SMRs), with the goal of achieving commercial application in Japan. This is seen as a significant step forward by a Japanese private enterprise toward the practical deployment of SMRs. The Basic Energy Plan approved by Japan's Cabinet last year calls for maximizing the use of nuclear energy. At a ministerial meeting held last week, the Japanese government once again confirmed its commitment to advancing the research, development, and deployment of next-generation nuclear reactors. SMRs represent one of the technology pathways for next-generation nuclear reactors. Due to their smaller unit size and higher degree of modularization, the industry generally...

2026-08-05

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...

2026-08-05