The Ministry of Science and ICT has put its heads together with demand and supply companies to accelerate the commercialization of small modular reactors (SMRs). The government and industry agreed to form a joint public-private council within October and hold a kickoff meeting so as not to miss the window for securing an early lead in the global market.
 [코리안투데이] SMR Demand-Supply Company Meeting © 장형임 기자 |
The Ministry of Science and ICT (Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon) held the 1st SMR Demand-Supply Company Meeting, chaired by the First Vice Minister, at 9:30 a.m. on October 1 in the main conference room of the Presidential Advisory Council on Science and Technology.
From the government side, the meeting was attended by the First Vice Minister along with the Director of the Nuclear R&D Division and the Head of the Nuclear Research Cooperation Team. From industry, SMR demand companies POSCO E&C, Lotte Chemical, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries and Hanwha Ocean took part, together with supply companies Doosan Enerbility, Hyundai E&C, Samsung C&T and Daewoo E&C, as well as the Korea Atomic Industrial Forum. From the research community, the Korea Atomic Energy Research Institute, the National Research Foundation of Korea and the Advanced Reactor Industrial Technology Research Association attended.
The government has included SMRs in the future clean energy field of the Seven SEED Projects for future growth engines announced this past August, and has set the goal of beginning construction of non-light-water SMRs in the 2030s. The Seven SEED Projects, a future growth engine initiative announced on August 12, 2026, aim to foster seven cutting-edge technologies—SMRs, nuclear fusion and renewable energy; quantum, aerospace and advanced bio; and critical minerals and materials, parts and equipment—in order to secure Korea’s next-generation sources of income 10 to 20 years from now. In the SMR field, the goals are set as commercializing light-water SMRs by 2035 and beginning construction of non-light-water SMRs in the 2030s. This meeting served as a venue where relevant companies gathered to discuss ways to accelerate technology development, identify the bottleneck regulations that hinder SMR use, and consider improvement measures, all for the substantive implementation of the project and the successful commercialization of SMRs.
SMRs are not limited to generating electricity on land; they can be used for multiple purposes, including process heat for steelmaking and petrochemicals, propulsion power for ships, and floating nuclear power plants. Their range of use is broad in that they can serve not only for electricity but also for heat at industrial sites and for ships at sea. The Ministry of Science and ICT shared the development status and policy direction of multipurpose SMRs and, together with the attending companies, reviewed demand for maritime SMRs, heat demand in industrial complexes, the timing when supply will be needed, and domestic siting conditions. The direction for establishing the Basic Plan for SMR System Development, scheduled to be drawn up in 2027, was also discussed.
The Ministry of Science and ICT also shared the outcome of its participation in the launch ceremony of the International Atomic Energy Agency’s (IAEA) global cooperation project for maritime nuclear power, the ATLAS (Atomic Technologies Licensed for Application at Sea) initiative, held in the United States this past August. It stressed the importance of early participation in the process of shaping international standards and systems—such as international safety standards, licensing, ship classification and maritime certification required for the commercialization of maritime nuclear power—and heard the views of companies such as shipbuilders. In addition, while sharing the outcome of the IAEA General Conference held in Austria in September, it noted that the conference’s center of gravity is rapidly shifting from ‘nuclear safety’ to ‘nuclear growth’ (AI, electricity, SMRs and the nuclear fuel supply chain), and listened to companies’ response strategies, including their plans to secure an early lead in the SMR market.
The Ministry of Science and ICT also shared plans for the IAEA Ministerial Conference on Nuclear Power, to be co-hosted with the IAEA in Songdo, Incheon, from October 27 to 29. Noting that it offers an opportunity to showcase Korea’s nuclear technology and supply chain capabilities, the ministry called for companies’ active participation.
On this day, the government and companies agreed to form a joint public-private council within October and hold a kickoff meeting so as not to miss the timing for securing an early lead in the global market. First Vice Minister Koo Hyuk-chae said, ‘We plan to actively reflect and improve upon the matters discussed at this meeting in the follow-up measures to the SMR Special Act, such as the basic plan and the promotion committee,’ adding, ‘We will swiftly form the joint public-private council to reduce the private sector’s investment uncertainty.’
This discussion holds considerable significance for industrial sites and local communities as well, in that it is directly linked to stable power supply, carbon neutrality, and the future competitiveness of mainstay industries such as shipbuilding and petrochemicals. In particular, the IAEA Ministerial Conference on Nuclear Power to be held in Songdo at the end of October is drawing local attention as a stage for international nuclear diplomacy taking place in the Incheon region.
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