Bill Gates discusses SMR cooperation with South Korean industry leaders

Bill Gates, co-founder of the small modular reactor (SMR) developer TerraPower, visited South Korea, signaling a push to deepen cooperation on next-generation nuclear technology. The visit coincided with discussions between the South Korean government and major domestic companies to bolster partnerships for SMR development, a technology seen as crucial for meeting rising electricity demands from areas like AI data centers and renewable energy integration.

During his visit, Gates met with South Korean Minister of Trade, Industry and Energy, Kim Jeong-kwan, to explore ways to increase Korean companies' participation in TerraPower's SMR projects. TerraPower is currently developing a 345MW, fourth-generation sodium-cooled SMR in Wyoming, USA, which has received a construction permit from the U.S. Nuclear Regulatory Commission and is slated for commercial operation in 2031. The minister emphasized that combining TerraPower's standardized design with South Korea's reliable mass-production supply chain is essential for SMR economic viability, positioning South Korea as an ideal partner with its extensive experience in nuclear plant construction and operation.

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The combination of TerraPower's standard design and Korea's reliable mass-production supply chain is essential for securing the economic feasibility of SMRs.

Following the meeting, an agreement was signed between TerraPower and SK Innovation to explore global joint business opportunities, potentially opening doors for SK Innovation's participation in SMR projects in the U.S. and other international markets. Additionally, HD Hyundai Chairman Chung Ki-sun met with Gates and TerraPower CEO Chris Levesque to discuss comprehensive cooperation for the commercialization of land-based reactors, building on a previous memorandum of understanding signed in May.

Doosan Enerbility also announced it has secured contracts to manufacture key components for TerraPower's SMR, including the reactor vessel, internal structures, and support systems. The company has been collaborating with TerraPower on manufacturing feasibility studies since December 2024. The South Korean government has identified SMRs as a key future growth engine, alongside other advanced technologies, with plans to commercialize conventional SMRs by 2035 and begin construction of non-conventional SMRs in the 2030s. This strategic focus underscores South Korea's ambition to become a global leader in SMR technology and manufacturing.

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We will carry out this project without a hitch and continuously strengthen our SMR manufacturing capabilities to expand our role as a global supplier.