South Korean government to invest 2.5 trillion won in next-generation nuclear reactor development project - South Korea

The South Korean Ministry of Science and ICT announced that at the 8th deliberation meeting of the National Science and Technology Advisory Council, a policy to promote technological development and demonstration to secure next-generation nuclear power was discussed and passed.
Korean companies have strengths in the design and manufacturing of large-scale nuclear power plants, but they have yet to demonstrate the next-generation reactors they are developing under this policy, and there is no commercialization model led by the private sector, so preparations for commercialization are currently underway.
In response to this, the ministry has proposed a policy to go beyond technological development and conduct demonstration tests together with private companies that can quickly respond to the market, in order to strengthen the securing of clean energy and create next-generation businesses.
The government plans to achieve this by drawing up a roadmap for nuclear technology development and demonstration by the end of the year. It plans to secure the core technology for the domestically produced small modular reactor (i-SMR), complete the standard design by 2025, and then develop the i-SMR by 2030.
The company aims to enter the global SMR market in the 2020s. To achieve this, it plans to establish an organization to handle the i-SMR business and lay the groundwork, including establishing a policy for managing intellectual property rights.
In addition, the Domestic Next-Generation Reactor Technology Development and Demonstration Program (K-ARDP) is being implemented.
The project, costing approximately 2.5 trillion won (approximately 282,084,040,000 yen), aims to foster companies with the necessary skills and support joint industry-academia technology development and demonstration.
In addition, a safety regulation system for new technologies will be established, and a next-generation nuclear reactor research association will be organized within the year.
We will proceed.