HD Hyundai Chairman Jeong Ki-seon Accelerates Commercialization of Next-Gen SMRs with Bill Gates

HD Hyundai Chairman Jeong Ki-seon and TerraPower Chairman Bill Gates agreed on the 14th to accelerate the commercialization of next-generation Small Modular Reactors (SMRs).

The United States currently holds the world's largest nuclear power market, approximately 95 gigawatts (GW), but replacement demand is arising due to the aging of facilities that began operation in the 1970s. Furthermore, with power supply issues worsening due to the proliferation of artificial intelligence data centers, the introduction of new nuclear power plants is urgent.

During the meeting, Chairman Jeong announced that they would accelerate commercialization based on a cooperation system encompassing technology, manufacturing, and Engineering, Procurement, and Construction (EPC). In particular, HD Hyundai plans to lead cooperation in the manufacturing sector, aiming to establish a production system capable of supplying 2 to 3 reactor vessels annually.

Pursuant the business agreement signed with TerraPower and Hyundai E&C this past May, HD Hyundai is launching full-fledged business operations. Through a tripartite cooperation system where TerraPower provides nuclear power technology, HD Hyundai manufactures key equipment, and Hyundai E&C handles design and construction, the companies aim to target the next-generation nuclear power market.