South Korea Targets Next-Generation Nuclear Market...Develops Beyond SMRs to "Nuclear-Powered Vessels"

Science Ministry Presents Seven Major SEED and K-Moonshot Initiatives at IAEA Conference

Expanding i-SMR Development and Marine Nuclear Power... Nuclear Energy Ministerial Meeting in Korea This October

The government is advancing into the future nuclear power market by prioritizing the development of next-generation nuclear technologies, such as small modular reactors (SMR) and nuclear-powered ships.

On September 15, local time, Koo Hyuk Chae, First Vice Minister of the Ministry of Science and ICT, presented South Korea's future nuclear innovation strategy during the keynote speech at the 70th General Conference of the International Atomic Energy Agency (IAEA) held in Vienna, Austria.

Goo Hyuk-chae, 1st Vice Minister of the Ministry of Science and ICT, is shaking hands with Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA). Courtesy of the Ministry of Science and ICT

Vice Minister Koo defined nuclear power as a carbon-free energy source that contributes to energy security and carbon neutrality, as well as a future-oriented strategic technology for growth. He announced plans to develop next-generation nuclear technologies and create new markets through the "Seven SEED Projects."

In particular, based on the recently enacted "SMR Special Act," South Korea will expand the development and application of innovative SMRs (i-SMRs). Through the "K-Moonshot" project, the government aims to develop SMR-powered ships by combining nuclear technology with the nation's strong shipbuilding and marine engineering capabilities. The goal is to secure a first-mover advantage in the emerging offshore nuclear market, moving beyond land-based power reactors.

During the conference, Vice Minister Koo also met with Rafael Grossi, Director General of the IAEA, and senior officials from various countries, including Singapore and Canada, to discuss cooperation in future nuclear sectors such as SMRs. Additional discussions on next-generation nuclear technologies and international collaboration are planned for the IAEA Nuclear Energy Ministerial Meeting to be held in South Korea this October.

Vice Minister Koo stated, "The Republic of Korea will lead next-generation nuclear innovation, including SMRs and offshore nuclear power," and added, "We will discuss new possibilities for nuclear energy and the future of international cooperation together with other countries."

This content was produced with the assistance of AI translation services.