Filter by tags: South Korea Saudi Arabia Small modular reactor Clear all tag filters
4 news articles found
Hyundai Engineering CEO Hong Hyun-seong and the Korea Atomic Energy Research Institute (KAERI) President Joo Han-gyu have signed a memorandum of understanding (MOU) to jointly promote the commercialisation and export of KAERI’s SMART small modular reactor (SMR). Hyundai Engineering will be responsible for business development, financing and EPC (engineering, procurement & construction) for verification and commercialisation of SMART and KAERI will continue to support reactor design and licensing.
- Source: NEI Magazine
- Date: Thursday, 14 December 2023
- Original article: neimagazine.com/news/newskaeri-and-hyundai-engineering-to-promote-export-of-smart-smr-11369646
Countries around the world turned to nuclear as a reliable low-carbon energy source as they looked for ways to wean themselves off Russian imports and lower carbon emissions.
New plants began operating, deals for small modular reactors were signed and countries announced ambitious plans for new-build.
On the political front, US president Joe Biden signed into law new legislation that will help to finance struggling nuclear reactors and could save dozens from being shut down early. In Europe, the nuclear industry celebrated when members of the European parliament decided to “follow the science” and support legislation which includes nuclear in the bloc’s sustainable finance taxonomy for green investment.
- Source: Nucnet
- Date: Tuesday, 10 January 2023
- Original article: nucnet.org/news/five-major-developments-that-are-setting-the-stage-for-2023-and-beyond-1-1-2023
The policy effectively reverses the previous administration’s plans to phase out commercial nuclear energy.
Former president Moon Jae-in’s policy had been to retire the country’s 24 commercial reactors, which supply about 30% of its electricity generation, and refrain from building new ones.
By contrast, new president Yoon Suk-yeol, who took office earlier this year, is bullish on the need for South Korea to embrace nuclear energy. He has said building nuclear power plants is a global trend and essential to the reduction of carbon and energy security, noting that the EU had recently classified nuclear power as green energy in its sustainable finance taxonomy.
- Source: Nucnet
- Date: Thursday, 07 July 2022
- Original article: nucnet.org/news/new-energy-policy-reverses-phaseout-plans-and-targets-30-nuclear-share-in-2030-7-3-2022
South Korea and Saudi Arabia signed a memorandum of understanding (MOU) on comprehensive cooperation in nuclear research and development on the sidelines of the IAEA General Conference in Vienna on 17 September. They agreed to collaborate on the commercialisation of Korea’s SMART small modular reactor and to work together to licence and construct the first SMART unit in Saudi Arabia.
- Source: NEI Magazine
- Date: Wednesday, 25 September 2019
- Original article: neimagazine.com/news/newssouth-korea-and-saudi-arabia-to-co-operate-on-smart-smr-7421502