Hyundai E&C, KAERI join hands to commercialize advanced small modular reactors

By Kim Joo-heon Posted : June 12, 2024, 17:58 Updated : June 12, 2024, 17:58
Yoon Young-jun right CEO of Hyundai Engineering  Construction and Joo Han-gyu president of the Korea Atomic Energy Research Institute pose after signing a business agreement on June 12 2024 Courtesy of Hyundai EC
Yoon Young-joon (right), CEO of Hyundai Engineering & Construction, and Joo Han-gyu, president of the Korea Atomic Energy Research Institute, pose after signing a business agreement at the Hyundai's headquarters in Seoul on June 11, 2024. Courtesy of Hyundai E&C
SEOUL, June 12 (AJU PRESS) - Hyundai E&C signed a memorandum of understanding with the Korea Atomic Energy Research Institute (KAERI) to commercialize the next-generation modular reactors that are said to be smaller and safer than conventional reactors, the Korean construction firm said Wednesday.

The two entities will develop sodium-cooled fast reactors (SFRs) that use fast neutrons to generate fission and employ liquid sodium as a coolant. They will additionally collaborate on commercialization and export initiatives, reciprocal personnel assistance, and consultation.

SFRs are gaining attention as fourth-generation reactors due to their ability to recycle used nuclear fuel, according to Hyundai E&C. It enhances uranium utilization rates and significantly reduce the amount of high-level radioactive waste.

Since 2022, the two parties have collaborated across various areas including light-water reactor-based SMRs and the utilization of nuclear energy for hydrogen production.

"Through diversified collaboration, we will lay the groundwork for energy security and vigorously explore opportunities in international markets to strengthen our foothold in the emerging global energy landscape," Hyundai E&C said in a press release.
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