Journalist
Kim Dong Young
davekim0807@ajupress.com
-
Korea's shipbuilders to extend order growth streak in 2026 Editor's Note: This is the second installment in AJP's 2026 outlook series on South Korea's key industries, based on forecasts by the Korea Chamber of Commerce and Industry (KCCI). SEOUL, December 17 (AJP) - South Korea's shipbuilding industry is expected to extend its growth streak into 2026 after posting record shipments in 2025, although slowing global orders and intensifying competition from Chinese yards are emerging headwinds, according to forecasts compiled by the Korea Chamber of Commerce and Industry (KCCI). Vessel exports are projected to reach an estimated $31.2 billion this year, up 22 percent, driven mainly by liquefied natural gas (LNG) carriers and large container ships. LNG carriers and container vessels accounted for 38.1 percent and 33.3 percent of total exports, respectively. Export growth is expected to moderate next year. Based on current order books, KCCI forecasts exports of $33.92 billion in 2026, marking a slower but still solid annual increase of 8.6 percent. Orders thin, but Korea holds ground New orders thinned sharply in 2025, clouding the mid-term outlook. Global ship orders through October plunged 43 percent year-on-year to 37.89 million compensated gross tonnage (CGT). Korean shipyards secured 8.06 million CGT over the period, down 5.4 percent — a comparatively mild decline that underscores Korea's resilience amid intensifying global competition. Orders included 80 container ships, 63 tankers, 16 LNG carriers and seven LPG carriers. Low-carbon container vessels stood out as the strongest segment. Orders for such ships rose 5.1 percent year-on-year, accounting for 45.6 percent of total orders, while backlogs surged 31.5 percent as shipping lines accelerated fleet renewals to meet tightening environmental regulations. Despite softer ordering, shipbuilding remains one of South Korea's brightest export sectors heading into 2026, supported by prolonged geopolitical disruptions — including the Red Sea crisis and the Russia-Ukraine war — that continue to sustain replacement demand. LNG and container pipelines stay robust LNG carriers, a traditional stronghold for Korean builders, are showing signs of recovery. HD Hyundai Heavy Industries has reportedly signed a letter of intent with Japanese shipping group NYK for up to eight 174,000-cubic-meter LNG carriers worth an estimated $2.08 billion, linked to Cheniere Energy's Texas projects. Hanwha Ocean is also expected to finalize separate deals with Norway's Knutsen and Equinor totaling around $1 billion. "Interest in new LNG carrier builds has grown," said Georgios Plevrakis, head of Hanwha Ocean's European business development, at the World LNG Summit in Türkiye. "Delivery slots for 2029 are filling quickly, and from mid-next year, availability will shift to 2030." The container ship pipeline also remains firm. HMM awarded a combined $2.16 billion contract to HD Hyundai and Hanwha Ocean last month for 12 LNG dual-fuel container vessels. Singapore-based Pacific International Lines is seeking bids for four to eight 13,000-TEU vessels valued at least $1.28 billion, with Korean yards among the leading contenders. MASGA and U.S. naval ties lift sentiment A Korea–U.S. memorandum of understanding signed in November has further buoyed sentiment. Under the agreement, Seoul committed roughly $150 billion in shipbuilding-related investments to upgrade U.S. shipyards, while Washington publicly backed Korea's ambitions in nuclear-powered submarines. Cooperation is already materializing. Hanwha Ocean became the first Korean builder to secure a U.S. Navy maintenance contract and has undertaken multiple repair projects, including work on the dry cargo vessel Charles Drew. Its $100 million acquisition of Philly Shipyard last year has emerged as a flagship project under the "Make American Shipbuilding Great Again" initiative. HD Hyundai Heavy Industries, meanwhile, won a maintenance contract in August for the 41,000-ton USNS Alan Shepard and completed its merger with HD Hyundai Mipo on Dec. 1 to streamline operations. 2026 outlook: LNG rebound, tankers next Clarkson Research projects global ship orders of 49.78 million CGT across 1,952 vessels in 2026. LNG carrier orders are expected to rebound to 115 units as major projects — including Plaquemines LNG Phase 2, Port Arthur and Rio Grande LNG Phase 1 — reach final investment decisions. Qatar's fleet renewal program could add another 15 to 30 LNG carrier orders. Tankers may emerge as the next growth driver once containership ordering cools. Clarkson forecasts 442 tanker orders next year, including 115 crude carriers and 215 product carriers. Expectations for Korea-built nuclear-powered submarines have also strengthened after Washington's public endorsement during the APEC summit in Gyeongju. While no contracts have been confirmed, U.S. Navy Chief Adm. Daryl Caudle visited HD Hyundai and Hanwha Ocean facilities in November, urging Korea to "move beyond a regional navy." "U.S. naval vessel and nuclear submarine themes that drove share prices in 2025 will continue to support the sector next year as MASGA details emerge," said Byun Yong-jin, analyst at iM Securities. "But earnings will take time to materialize. Nuclear submarines, in particular, are long-cycle projects, and expectations should be tempered." 2025-12-17 15:37:37 -
Kosdaq-heading chip design house SemiFive prices IPO at top of range SEOUL, December 17 (AJP) - South Korean chip designer SemiFive said on Wednesday it has set its initial public offering price at 24,000 won per share, the top of its indicative range, after its book-building drew 2,159 institutional investors with a subscription rate of 436.9 to 1. The IPO will raise about 129.6 billion won ($87 million) and value the company at about 809 billion won when it lists on the KOSDAQ market on Dec. 29. The book-building ran from Dec. 10 to 16. SemiFive, founded in 2019, designs application-specific integrated circuits for AI applications and provides end-to-end services from chip design to mass production. Its clients include AI chip developers FuriosaAI and Rebellions, as well as Hanwha Vision. New orders rose from 5.7 billion won in 2020 to 125.7 billion won in the first nine months of 2025, surpassing the 123.9 billion won booked in all of 2024. Overseas revenue jumped to 55 billion won in the January-September period from 4.5 billion won a year earlier. The company is the first Samsung Foundry design partner to undertake a turnkey project on Samsung's second-generation 2-nanometer gate-all-around process. Revenue from 2nm to 4nm processes rose to 41.4 percent of sales in the first three quarters from 5 percent in 2022. "We have Big Tech-ready development experience, proprietary chip design platform technology, and end-to-end solution capabilities," CEO Brandon Cho said. "We expect to turn profitable next year." 2025-12-17 14:29:14 -
Another turbulent year looms for Korea's petrochemical industry in 2026 Editor's Note: AJP is running a series on the 2026 outlook for South Korea's key industries, based on forecasts compiled by the Korea Chamber of Commerce and Industry (KCCI). The first installment examines petrochemicals. SEOUL, December 16 (AJP) - South Korea's battered petrochemical industry, already deep into streamlining and restructuring, is bracing for another difficult year in 2026, with conditions expected to remain cloudy and rain-soaked, according to an industrial "weather forecast" released by the Korea Chamber of Commerce and Industry (KCCI). Exports are projected to fall a further 6.1 percent next year, following an estimated 11.2 percent drop in 2025, as global oversupply continues to weigh heavily on prices and margins. Domestic output is expected to edge up just 0.9 percent to 20.67 million tons, reflecting capacity rationalization after an estimated 3.7 percent contraction this year. The global glut shows little sign of easing. China's share of global ethylene capacity has surged from 21 percent in 2022 to an estimated 25.2 percent this year, while worldwide oversupply is projected to widen to 49 million tons in 2025, up from 44.9 million tons last year. Restructuring has been most acute at the Yeosu petrochemical complex in South Jeolla Province, which accounts for roughly half of South Korea's total petrochemical capacity and produces 6.41 million tons of ethylene annually. During a visit last month, Trade, Industry and Energy Minister Kim Jung-kwan warned that companies failing to meet a December deadline for output cuts would be excluded from government relief measures. Under a government-mediated "voluntary pact" reached in August, three major petrochemical hubs agreed to roll back naphtha cracking output by up to 25 percent of total capacity. At the Daesan complex in South Chungcheong Province, Lotte Chemical and HD Hyundai Chemical have already submitted plans to scale down their naphtha cracking centers, while Ulsan-based producers SK Geo Centric and Korea Petrochemical are exploring partnership options. Progress elsewhere has intensified pressure on Yeosu-based producers to follow suit. Yeocheon NCC, the country's third-largest ethylene producer, reached a breakthrough this month after its joint owners Hanwha Solutions and DL Chemical reportedly agreed to finalize feedstock supply contracts that had been stalled for nearly a year over pricing disputes. The agreement clears the way for Yeocheon NCC to permanently shut down its No. 3 plant, which has been idle since August, eliminating 470,000 tons of annual capacity. The two shareholders have also agreed to convert a combined 300 billion won ($220 million) in loans into equity. Tensions, however, remain unresolved. DL Chemical said Monday that it had proposed shutting down Yeocheon NCC's larger No. 1 plant, which has capacity of 900,000 tons, a move Hanwha Solutions said had not been agreed upon. Industry sources interpret the proposal as DL's attempt to minimize its losses, noting that Hanwha consumes roughly 1.4 million tons of ethylene annually—nearly twice DL's usage of 735,000 tons. DL Chemical argued in a statement that closing either the No. 1 or No. 2 plant was the only viable option to stem ongoing losses. China's relentless capacity expansion has continued to erode margins across the naphtha-based value chain. Ethylene prices have fallen to about $740 per ton this month, down 17 percent from the start of the year, while propylene prices have dropped 15 percent to around $880 per ton. Analysts expect the oversupply to persist at least through 2027. Domestic demand has offered little relief. Output of vehicles for the domestic market fell 2.7 percent in 2024 to 4.13 million units, while construction activity has contracted by double digits for most of 2025. Rising imports of plastic and textile products have further squeezed demand for locally produced petrochemicals. "Under a conservative scenario involving SK Geo Centric in Ulsan, Yeocheon NCC's No. 1 plant in Yeosu and Lotte Chemical in Daesan, the industry could shed around 2.7 million tons, or 21 percent of domestic capacity," said Jeon Yu-jin, an analyst at iM Securities. "A more aggressive scenario that includes LG Chem's No. 1 plant would push cuts to about 3.9 million tons, or 30 percent." In its report, KCCI urged the government to elevate eco-friendly petrochemical technologies from a "new growth engine" to a "national strategic technology," a move that would lift tax credits by more than 10 percentage points. The group said stronger incentives could accelerate the industry's shift toward bioplastics, chemical recycling and electric-heated naphtha cracking. "China's manufacturing competitiveness is rising by the day, putting every producer on edge," said Lee Jong-myung, head of KCCI's industrial innovation division. "Companies must continue experimenting aggressively, including with AI, while the government needs to deliver bold regulatory reforms and incentive frameworks to support the transition." 2025-12-16 15:46:16 -
Celltrion launches Eylea biosimilar in Europe, secures UK healthcare tenders SEOUL, December 16 (AJP) - South Korean biopharmaceutical company Celltrion said it launched Eydenzelt, its biosimilar version of blockbuster eye disease treatment Eylea, in major European markets including Germany and Britain earlier this month as it seeks to expand its foothold in the lucrative ophthalmology sector. The company's UK subsidiary secured National Health Service tenders in three administrative regions immediately upon launch, including northern England, the country's largest procurement zone, where Eydenzelt became the only officially listed biosimilar, Celltrion said Tuesday. Celltrion has also rolled out Eydenzelt in Portugal, where it plans to target government tenders that account for about 60 percent of the national market. The company aims to progressively expand its European sales footprint through next year to accelerate prescriptions. "Celltrion, recognized as a biosimilar powerhouse across Europe, plans to leverage its marketing prowess and brand credibility built through years of direct sales to ensure the successful market entry of Eydenzelt," a company official said. The company intends to tap into existing networks of healthcare professionals established through its portfolio of autoimmune and oncology biosimilars, expecting brand loyalty to carry over to the new ophthalmic product. Eydenzelt targets the same conditions as Eylea, a treatment for wet age-related macular degeneration and diabetic eye diseases that generated about $9.5 billion in global sales last year. Celltrion obtained European Commission approval for both vial and pre-filled syringe formulations of the biosimilar in February. The launch is expected to ease healthcare spending burdens across European nations while broadening treatment options for patients suffering from retinal disorders. 2025-12-16 10:01:08 -
GM Korea dismisses exit speculation, pledges $300 million investment for 2026 SEOUL, December 15 (AJP) - General Motors (GM) Korea on Monday moved to quell persistent speculation about a market withdrawal, unveiling a sweeping 2026 business strategy that underscores its commitment to both exports and domestic sales. GM Korea held its "GM Korea 2026 Business Strategy Conference" at the Cheongna Proving Ground in Incheon, where executives highlighted the country's pivotal role in the Detroit automaker's global supply chain. The company said it would invest about $300 million next year and launch at least four new models. The announcement comes as GM Korea navigates the fallout from U.S. President Donald Trump's tariff policies, which currently impose a 15 percent levy on vehicles imported from South Korea. The company shipped about 84 percent of its production to the United States last year, making it heavily exposed to trade friction between Washington and Seoul. Executives sought to emphasize the strategic value of Korean operations. Sport utility vehicles manufactured in South Korea captured 36.7 percent of the U.S. small SUV market in October and accounted for 11.8 percent of GM's total American sales, the company said. Half of U.S. buyers who purchased the Chevrolet Trax Crossover were new GM customers, pointing to the brand's ability to attract fresh clientele. "Over the past two decades, GM has produced 13.3 million vehicles in Korea and sold 2.5 million in the domestic market, establishing GM Korea as a key part of the nation’s automotive industry," Hector Villarreal, CEO of GM Korea, said at the conference. "Moving forward, we will strengthen our full-cycle capabilities in Korea from vehicle design and engineering to manufacturing and sales, while expanding our product portfolio of next-generation ICE vehicles and EVs, introducing advanced driving technologies for Korean customers, and growing together with the Korean market." The automaker also signaled renewed focus on the domestic market, where sales have cratered. GM Korea sold 13,952 vehicles in the country between January and November, a 39.4 percent plunge from a year earlier. Monthly sales dipped below 1,000 units in November. To revive its fortunes, the company plans to roll out three GMC models and one Buick vehicle next year, making South Korea the first market outside North America to carry all four GM brands. Still, experts remain cautious. Sustained U.S. tariffs and tepid domestic demand could reignite exit speculation if conditions fail to improve. GM Korea said in May it would sell nine company-owned service centers nationwide and some facilities at its Bupyeong plant in Incheon, shifting to a partner-operated service network from next year. 2025-12-15 15:09:37 -
SK On expands at home with big bet on LFP amid uncertainty in global battery market SEOUL, December 15 (AJP) - SK On is building a 3-gigawatt-hour lithium iron phosphate (LFP) facility at its Seosan complex in what would become the largest pure-play energy storage system (ESS) production site in Korea, a bold scale-up aimed at catching up with larger domestic rivals seeking to capitalize on power demand driven by AI investment. The facility, designed to roll out ESS capacity sufficient to power 40 to 50 large-scale data centers annually, will mark SK On's first domestic LFP production base, following what industry sources described as a decisive loss to Samsung SDI in the first round of government ESS tenders. In ESS tenders across five provinces awarded by the Ministry of Climate, Energy and Environment in July, Samsung SDI captured nearly 80 percent of total volume, largely due to its existing domestic infrastructure. SK On plans to convert battery production lines originally designated for electric vehicle nickel-cobalt-manganese (NCM) cells at the Seosan plant into ESS-dedicated LFP facilities. "We plan to go after the government's second ESS tender, a 3.3 GWh procurement round scheduled for 2027 delivery," an SK On spokesperson said. The ministry aims to install 138 GWh of ESS capacity nationwide by 2038 to support the expansion of solar and wind power generation, representing a cumulative project pipeline valued at 20 trillion to 30 trillion won ($13.5 billion to $20.3 billion). The capital expenditure around Seosan, however, extends beyond domestic tenders. SK On plans to use the site as a "mother factory" — a research and development hub where new ESS products and manufacturing processes are refined before being replicated at overseas plants. The tightly integrated local battery supply chain, in which cell makers and component suppliers operate in close proximity, is seen as a competitive advantage for this strategy. SK On's aggressive LFP push is unlikely to immediately alter the plans of larger local rivals, which have already crowded into the ESS segment as the electric vehicle market stagnates. LG Energy Solution last month said it would establish a 1 GWh ESS production line at its Ochang plant, previously the largest ESS project of its kind in Korea before SK On's announcement. Samsung SDI, meanwhile, faces a strategic dilemma. Its NCM batteries carry higher production costs than LFP cells, which are about 30 percent cheaper and better suited to the temperature extremes and long charge-discharge cycles typical of grid-scale storage. As rivals expand domestic LFP capacity, Samsung's early advantage — rooted in local manufacturing scale — could erode unless it pivots. The domestic competition is unfolding against a backdrop of intensifying global pressure. Chinese manufacturers CATL, Hithium and EVE Energy dominate the global ESS market, leveraging low-cost LFP production at scale. Korean battery makers account for roughly 24 percent of the global EV battery market, but less than 10 percent of the ESS segment as of mid-2025. Still, the structural outlook favors grid storage. Battery Council International projects the global ESS market will expand nearly sixfold, from 200 GWh in 2025 to 1,200 GWh by 2030, noting that a single large data center can require as much as 1 gigawatt of power to operate. Compared with the stagnant EV market — highlighted by SK On's split with Ford after sluggish EV sales weighed on their joint venture — demand driven by AI data centers and renewable energy infrastructure is emerging as a more durable growth engine. Samsung SDI and LG Energy Solution are not expected to significantly ramp up domestic LFP capacity to match the latecomer. "Samsung and LG are far more experienced ESS suppliers than SK On, leaving SK relatively dwarfed in domestic competition, as seen in the last government bidding," said Chang Jung-hoon, a senior analyst at Samsung Securities, speaking to AJP. "SK On's investment should be viewed from a different angle — as a cost-effective approach to securing a foothold in the domestic market." Chang added that Samsung won most of its recent contracts using NCM batteries rather than LFP cells. "It was the broader battery ecosystem that secured contracts for Samsung and LG. They have far less incentive to expand LFP production in Korea," he said. While challenges abroad persist, particularly in the United States, industry observers expect domestic rivalry to intensify. All three Korean battery makers increasingly view ESS as a critical earnings pillar as the global EV market remains mired in uncertainty. 2025-12-15 14:51:54 -
Samsung, Hyundai, LG and SK chart AI-driven growth strategies for 2026 SEOUL, December 14 (AJP) - South Korea's four largest conglomerates are racing to finalize their 2025 business strategies, with artificial intelligence emerging as the linchpin of their growth plans amid persistent economic uncertainty. Samsung Electronics will convene its biannual global strategy meeting on Dec. 16, bringing together senior executives and overseas subsidiary heads to chart next year's direction. The company, pursuing a transformation into an "AI-driven company," will focus on bolstering AI semiconductor competitiveness and stabilizing mass production of its 2-nanometer foundry process. The memory division will discuss customer-tailored strategies centered on sixth-generation high-bandwidth memory, HBM4, while the consumer electronics unit will concentrate on enhancing AI features across smartphones, televisions and home appliances. Hyundai Motor Group plans to counter potential U.S. tariffs through supply chain diversification while expanding its hybrid lineup to more than 18 models by 2030. The automaker is also pushing to launch robotaxi services in major U.S. cities next year. LG Group held its executive meeting on Dec. 10, where Chairman Koo Kwang-mo and about 40 chief executives discussed strategies to nurture growth engines in AI, biotechnology and clean technology. LG Electronics will hold a company-wide management meeting on Dec. 19 under newly appointed CEO Lyu Jae-cheol. SK Group held its annual CEO seminar in early November, with Chairman Chey Tae-won urging executives to strengthen competitiveness and seize leadership in the AI race. SK hynix has established regional AI research centers, while SK Innovation created an AI transformation unit reporting directly to the CEO. 2025-12-14 14:52:46 -
Korean seaweed rides high as U.S. tariff exemption adds fuel to export boom SEOUL, December 14 (AJP) - South Korea's seaweed exports are on track to shatter records this year, and a newly announced U.S. tariff exemption is set to accelerate the momentum for the country's beloved K-gim. A White House fact sheet released last month listed seasoned seaweed as the sole seafood product to receive duty-free treatment, effectively slashing the previous 15 percent levy to zero, the Ministry of Oceans and Fisheries said Sunday. The exemption took effect on Nov. 13 based on customs clearance dates. Dried seaweed, however, remains subject to the 15 percent reciprocal tariff alongside other seafood items. Still, data reveals that seasoned seaweed accounts for more than 90 percent of the country's seaweed exports to the United States, the tariff to have minimal impact. The ministry said it would negotiate with Washington to secure duty-free status for dried seaweed and tuna fillets as well. The exemption comes as Korean seaweed continues to gain traction among American consumers. Exports to the U.S. reached $228 million in the first 11 months of 2025, up 15.9 percent from a year earlier, despite the imposition of reciprocal tariffs earlier this year. November shipments alone surged 25.2 percent on-year to $24.5 million, outpacing the cumulative growth rate for the January to November period. The U.S. accounts for more than 20 percent of South Korea's total seaweed exports. South Korea's global seaweed exports totaled $1.04 billion in the first 11 months, marking a 13.3 percent increase from the same period last year. This marks the first time annual shipments have surpassed the $1 billion threshold. Last year, exports narrowly missed the milestone at $997 million. The ministry forecasts full-year exports to exceed $1.1 billion for the first time in 2025. 2025-12-14 13:36:26 -
Seoul mayor slams government housing curbs, demands regulatory relief SEOUL, December 14 (AJP) - Seoul Mayor Oh Se-hoon on Sunday lambasted the government's Oct. 15 real estate regulations, accusing policymakers of crushing ordinary citizens' homeownership aspirations and urging an immediate rollback of lending restrictions and redevelopment controls. "The most ordinary yet desperate dream of owning a home is being trampled under the Oct. 15 measures," Oh said in a Facebook post. "The government must no longer turn a blind eye to the side effects of its real estate policy." The conservative mayor argued that tightened mortgage caps and expanded regulated zones have erected "abnormally high barriers" to property purchases, freezing transactions and funneling frustrated buyers into an already parched rental market. His rebuke comes as official data showed housing transactions surging ahead of the curbs. Apartment sales in Seoul jumped 62.5 percent month-on-month in October and soared 176 percent from a year earlier, according to the Ministry of Land, Infrastructure and Transport — a rush analysts attribute to buyers scrambling to close deals before stricter rules took effect. The broader Seoul metropolitan area recorded 39,644 housing deals during the same month, up 26.7 percent from September and 58.5 percent higher than a year ago. By contrast, transactions outside the capital region declined 6.2 percent month-on-month, underscoring the outsized impact of the regulations on the country's economic heartland. The Oct. 15 package designated all 25 districts of Seoul and 12 surrounding Gyeonggi Province municipalities as regulated zones, triggering the most aggressive clampdown on the capital region's property market in years. Oh disclosed he recently met with the Minister of Land, Infrastructure and Transport to convey his concerns but found little willingness to address the policy's fallout. He accused the central government of seeking municipal cooperation on housing supply while refusing to revisit market-distorting regulations. The mayor called for an immediate easing of restrictions on urban redevelopment projects and a reversal of lending policies that, in his view, treat genuine homebuyers as speculators. Invoking the previous Democratic Party's Moon Jae-in administration's income-led growth experiment, Oh warned that "policies begun with good intentions become misgovernment when their results prove harmful," and called on authorities to pivot before repeating past mistakes. 2025-12-14 11:23:14 -
Samsung C&T partners with Poland's Synthos to expand SMR business in Europe SEOUL, December 14 (AJP) - Samsung C&T has signed a memorandum of understanding with Polish small modular reactor (SMR) developer Synthos Green Energy to jointly pursue SMR projects across Central and Eastern Europe, the South Korean construction giant said Sunday. Under the agreement, the two companies will collaborate on expanding SMR business into the Czech Republic, Hungary, Lithuania, Bulgaria and Romania, while also working together on feasibility studies, site surveys and environmental impact assessments for Polish SMR projects. Synthos Green Energy aims to build up to 24 SMRs in Poland by the early 2030s, including the country's first SMR power plant, using BWRX-300 technology developed by GE Vernova Hitachi Nuclear Energy (GVH), a joint venture between General Electric and Japan's Hitachi. The BWRX-300 is a 300-megawatt SMR based on an advanced boiling water reactor design and is considered one of the leading technologies in the emerging SMR sector. Samsung C&T signed a separate agreement with GVH in October to expand SMR projects in Europe, Southeast Asia and the Middle East. "This close partnership with Synthos Green Energy will serve as a milestone in establishing our foothold in Poland and Central and Eastern Europe," Samsung C&T CEO Oh Se-chul said. Synthos Green Energy CEO Rafał Kasprów said he hopes the combination of Samsung C&T's global nuclear project expertise and his company's SMR capabilities will enhance the prospects for Poland's SMR projects and deliver safe, sustainable energy solutions across Europe. The partnership comes as European nations increasingly turn to nuclear power to meet decarbonization targets, with SMRs gaining traction as a flexible, cost-effective alternative to conventional large-scale reactors. 2025-12-14 10:33:02