Hyundai Engineering and KAERI To Partner for Global Export of Small Modular Reactors

Hyundai Engineering Co. has collaborated with the Korea Atomic Energy Research Institute (KAERI) to pursue the export of small modular reactors (SMRs) jointly. According to the memorandum of understanding (MOU) signed on Monday, Hyundai will take charge of business development, financing, and the engineering, procurement, and construction (EPC) aspects related to KAERI’s System-Integrated Modular Advanced Reactor (SMART) models.

Meanwhile, KAERI will focus on supporting tasks, including reactor design and licensing. This collaboration underscores the joint effort to propel the export of the Korean-designed SMR, specifically the SMART model, which stands for System-integrated Modular Advanced Reactor.

Within the framework of their collaboration, Hyundai Engineering and KAERI have delineated roles, with KAERI taking on responsibilities for reactor design and licensing in joint projects. 

The partnership is expected to enhance cooperation, particularly in an ongoing SMR project in Canada. The companies had previously inked an MOU with the Alberta provincial government in Canada in 2021. In September, they applied to the Canadian Nuclear Laboratories to proceed with a feasibility project to fully realize their joint efforts.

The SMART developed by KAERI offers a 330 MWt pressurized water reactor is designed for both electricity generation (up to 100 MWe) and thermal applications like seawater desalination. Further, SMART has a 60-year design life and a three-year refueling cycle. 

Despite the completed basic design, progress has been hampered by the absence of orders for an initial reference unit. However, the collaboration’s momentum is expected to grow, especially in the context of small modular reactor construction in Canada. 

The SMART model, a 110-megawatt class small modular reactor (SMR), has been a focus of the Korea Atomic Energy Research Institute (KAERI) since 1997. Achieving Standard Design Approval in 2012 from the Nuclear Safety and Security Commission for the reactor’s comprehensive safety design—the world’s first such recognition for an SMR. 

The compact size of the SMART model, one-tenth that of conventional nuclear power plants, enhances its versatility, enabling construction in remote and challenging terrains with fewer physical and geographical constraints.

Apart from the collaboration from the duo within the country, Uzbekistan, the United States, and India have also emerged as considerations for future expansion. KAERI plans to strengthen its local business presence in Canada, paving the way for accelerated demonstration and construction projects related to the SMART model. 

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