South Korea, U.S., Japan Launch Indo-Pacific SMR Cooperation Pact

South Korea, the United States, and Japan have established a trilateral cooperation framework to bolster the adoption of Small Modular Reactors (SMRs) across the Indo-Pacific region. The Memorandum of Cooperation (MOC) was signed on July 7 (local time) in Ankara, Turkey, on the sidelines of the North Atlantic Treaty Organization (NATO) summit.

South Korean Foreign Minister Cho Hyun, U.S. Secretary of State Marco Rubio, and Japanese Foreign Minister Toshimitsu Motegi signed the MOC. The agreement specifically aims to accelerate the deployment of SMRs, with a primary focus on countries within the Indo-Pacific.

According to the South Korean Ministry of Foreign Affairs and the U.S. Department of State, the cooperation framework is designed to foster mutually beneficial collaboration among the three nations, each possessing distinct strengths in the civilian nuclear sector. Key objectives include mitigating project development risks, achieving economies of scale, stimulating private investment, streamlining licensing processes, and optimizing supply chains for reactor deployment.

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This cooperation framework presents opportunities for three countries, each with its own strengths in the civilian nuclear sector, to encourage mutually beneficial cooperation among their respective nuclear industries.

The coordinated trilateral approach will enable companies from the U.S., Japan, and South Korea to offer more competitive energy solutions to meet the growing energy demands of partner nations in the region. Furthermore, the initiative emphasizes maintaining the highest standards of nuclear safety, security, and non-proliferation as new reactor technologies become operational.

The MOC outlines support for multiple SMR construction projects through standardized designs and simplified contracting procedures. It also includes provisions for forming consortia among companies from the three countries, facilitating project financing, enhancing capacity building, and providing technical, fuel, equipment, and service support. The U.S. is also contributing over $10 million in new funding to the State Department's "Foundational Infrastructure for Responsible Use of Small Modular Reactor Technology" (FIRST) program to promote SMR development and workforce training in the region.

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A coordinated trilateral approach will enable U.S., Japanese, and South Korean companies to offer more competitive alternatives to meet the growing energy needs of partner countries in the region, while maintaining the highest standards of nuclear safety, security, and non-proliferation as new reactor technologies are gradually deployed.