"Securing Large Nuclear Power Plant Contracts Is Not Enough"... K-Nuclear Parts and Equipment Target U.S. Market Too

Launch of the Nuclear Power Export Leaders Forum
Academia, industry, and government discuss global market strategies
Over 30 support programs to be enhanced, including certification and supplier registration...
U.S.-targeted support to begin in earnest next year

The government is set to ramp up support for domestic small and medium-sized nuclear power companies to penetrate global nuclear power markets, including the United States. The plan goes beyond bidding for large-scale nuclear power plants, aiming to expand export effects through the overseas advancement of the entire nuclear ecosystem, including equipment, parts, design, and manufacturing. As Korea-U.S. nuclear cooperation takes concrete shape, a new challenge lies in how extensively Korean companies can participate in the supply chain of U.S. nuclear projects.

On October 7, the Ministry of Trade, Industry and Energy launched the "Nuclear Power Export Leaders Forum" at the Korea Press Center in Seoul, with the participation of the nuclear industry, academia, research institutes, and government agencies. The forum, made up mainly of members from the Korea Nuclear Export Industry Association (KNA), will serve as an ongoing communication platform to share information on foreign nuclear power markets and discuss issues arising from the export process for domestic companies.

The current focus of the forum is the U.S. market. The event was attended by Kang Gamchan, Director-General for Trade and Investment at the Ministry of Trade, Industry and Energy—who led the working-level negotiations for the Korea-U.S. Nuclear Power Framework—as well as Lee Sangeun, Director for Nuclear Power Export Promotion. They provided explanations about the contents of the agreement and the negotiations process. Key players in the nuclear power sector, including Korea Hydro & Nuclear Power, Doosan Enerbility, Hyundai Engineering & Construction, and Samsung C&T, also participated to discuss strategies for expanding into the U.S. and other overseas nuclear power markets.

The recent expansion of the U.S. nuclear power market presents a significant opportunity for the domestic industry. As electricity demand surges—particularly due to artificial intelligence (AI) data centers—U.S. tech giants are seeking not only continued operation and restart of existing nuclear power plants, but also the development of new plants and the acquisition of small modular reactors (SMRs) to ensure stable power supplies. The U.S. government, for its part, is pushing for the expansion of nuclear power as a key means of enhancing energy security and manufacturing competitiveness.

The domestic nuclear ecosystem includes not only main equipment suppliers like Doosan Enerbility but also small and medium-sized enterprises delivering a variety of equipment such as valves, pumps, piping, and electrical facilities. For the expansion of overseas nuclear markets to translate into a tangible increase in exports for the domestic industry, the pivotal issue is to what extent these companies can gain entry into global supply chains for nuclear projects.

However, for foreign nuclear projects, the mere selection of a project operator does not guarantee automatic participation by domestic companies. For equipment suppliers to actually deliver products, they must meet the quality certifications and technical requirements demanded by the ordering party and nuclear reactor vendors, as well as complete the supplier registration process and other formalities.

Accordingly, the government's support focus will shift from simply winning orders to helping companies enter supply chains. The government will enhance more than 30 support programs—including the current "First Steps in Nuclear Export" initiative, overseas certification acquisition, supplier registration, and export credit insurance—and identify new customized support measures for key markets such as the United States, aiming for full-scale implementation starting next year. Assistance will also be offered for acquiring design and manufacturing technologies and meeting the qualification requirements set by overseas project owners.

Direct points of contact between domestic companies and foreign nuclear power corporations will also be increased. The Ministry of Trade, Industry and Energy plans to invite the global nuclear industry to the "NES 2026 (2026 International Nuclear Export and Safety Confex)" in Gyeongju from October 27 to 29, holding supplier briefings and business-to-business (B2B) meetings.

The Nuclear Power Export Leaders Forum will also serve as a permanent consultation channel between the government and the industry throughout this process. Information on overseas projects and supply chains, previously difficult to obtain for individual companies, will be shared, and problems encountered during certification and supplier registration will be jointly discussed by the government and the nuclear industry. KNA and industry stakeholders plan to establish operational frameworks and hold the forum on a regular basis in the future.

Director-General Kang stated, "As global demand for nuclear energy continues to grow, I hope that the nuclear energy sector will unite its capabilities to further globalize K-Nuclear. The government will provide full support to usher in a new era of nuclear exports."

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