SMR
K nuclear power plant supply chain combined to promote joint entry into the global market
The next generation nuclear power plant partnership between South Korea and the U.S. is in full swing

A view of the headquarters of the Export-Import Bank of Korea in Yeouido [Photo by = Export-Import Bank of Korea] ė‚Žė§„ 확대 A view of the headquarters of the Export-Import Bank of Korea in Yeouido [Photo by = Export-Import Bank of Korea]

Hwang Ki-yeon, president of the Export-Import Bank of Korea, met with Bill Gates, who founded TerraPower, a next-generation nuclear power company, to discuss ways to cooperate financially to commercialize small module reactors (SMRs) and advance into the global market.

The Export-Import Bank of Korea said on the 14th that they held a meeting to expand the global SMR ecosystem and strengthen cooperation with the Korea-U.S. next-generation nuclear power plants. The two sides agreed that Terra Power’s innovative technology and K-nuclear supply chain with unique manufacturing and construction capabilities will be combined to create strong synergy in the global market.

TerraPower is a U.S. next-generation SMR leader founded by Bill Gates in 2008 and is building a demonstration plant in Wyoming, USA, by developing a model called “Natrium” that uses sodium as a coolant to increase safety.

Mercury plans to proactively design customized financial packages such as loans and guarantees for global nuclear power plant projects promoted by TerraPower and Korean companies to support the financial completeness of the project.

In particular, it plans to strengthen strategic cooperation with global financial institutions such as the U.S. Export-Import Bank of America (US EXIM) in the mass supply stage of SMR to seek an effective joint financial support structure.

Chairman Bill Gates said, “Korean companies’ excellent nuclear power plant manufacturing and construction capabilities and customized financial support for mercury are key drivers to accelerate the commercialization of TerraPower’s SMR.”

“The next generation of SMR is a key pillar of Korea-U.S. nuclear power plant strategic partnership and solving power challenges in the AI era,” Hwang said. “We will actively support our companies in preoccupying the global SMR market by combining the world’s best supply chain of K-nuclear power plants and Mercury’s financial support capabilities.”

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Small Modular Reactor

TerraPower

Export-Import Bank of Korea

Project

Export-Import Bank of Korea

Partnership

President of Export-Import Bank of Korea

Nuclear Power Plant Company