- Ministry of Science and ICT holds SMR demand-supply industry roundtable

- Posco, Samsung Heavy Industries, Hanwha Ocean among demand-side firms in attendance

A concept rendering of a container ship powered by a small modular reactor [Provided by the Korea Research Institute of Ships and Ocean Engineering]
A concept rendering of a container ship powered by a small modular reactor [Provided by the Korea Research Institute of Ships and Ocean Engineering]

The government and South Korea's leading industrial companies are joining forces to commercialize multipurpose small modular reactors — technology that goes beyond generating electricity to powering ships and supplying high-temperature heat for steelmaking and petrochemical processes.

The Ministry of Science and ICT held an SMR demand-supply industry roundtable Thursday at the National Science and Technology Advisory Council, chaired by First Vice Minister Koo Hyeok-chae. Demand-side companies expected to use SMRs — including Posco E&C, Lotte Chemical, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries and Hanwha Ocean — attended alongside supply-side firms such as Doosan Enerbility, Hyundai Engineering & Construction, Samsung C&T and Daewoo Engineering & Construction.

SMRs are smaller than conventional nuclear power plants and can be built in modular form, making them suitable for a wide range of applications beyond electricity generation — among them industrial high-temperature heat supply, ship propulsion and floating nuclear power plants. The technology is seen as capable of opening new markets particularly in the steel and petrochemical industries, which require large amounts of heat, and in the shipping and shipbuilding sectors, which face mounting pressure to cut carbon emissions.

The government included SMRs in its "Seven SEED Projects" future growth engine initiative, announced in August. The targets are commercialization of light-water SMRs by 2035 and the start of construction of non-light-water SMRs in the 2030s. From 2027, the government plans to launch a joint public-private detailed design process, and for non-light-water SMRs it is pursuing the establishment of a jointly funded special purpose company from the earliest stages of development.

Thursday's roundtable focused on maritime SMR demand, industrial-complex heat demand, the timeline for actual supply needs and domestic siting conditions. The government also outlined the direction of its "SMR System Development Master Plan," which it plans to finalize in 2027.

Discussions with the shipbuilding industry centered particularly on strategies for commercializing reactors at sea — either by using a reactor directly as a ship's power source or by installing floating nuclear power plants offshore.

However, capturing the marine nuclear market will require more than technological development. Beyond international safety standards and reactor licensing, companies must also clear a separate set of hurdles: classification society and maritime certification.

The ministry shared with industry participants the results of its involvement in ATLAS, a global marine nuclear cooperation project the International Atomic Energy Agency launched in the United States in August. The government's view is that domestic companies must engage from the earliest stages of shaping international safety standards, licensing frameworks and maritime certification if South Korea is to secure a leading position in the market.

To accelerate commercialization, the government and industry agreed to form reactor-type-specific public-private joint consultative bodies in October and hold their inaugural meetings. The bodies will address not only technology development but also regulatory reform, research and business development, and the formation of special purpose companies for actual commercialization.

A special SMR act also underpins the commercialization push. The legislation provides the legal basis for establishing the SMR system development master plan, setting up a development promotion committee, improving related regulations, supporting research, development and demonstration, and backing jointly funded public-private companies.

"We plan to actively reflect the issues discussed at this roundtable in the follow-up measures under the special SMR act, including the master plan and the promotion committee, and continue to make improvements," First Vice Minister Koo said. "We will move quickly to form the public-private consultative bodies and reduce investment uncertainty for the private sector."


nbgkoo@heraldcorp.com