Fostering SME Nuclear Power Technology... Designating 51 Key Items with 21.5 Billion KRW Support

Panoramic view of Gori Nuclear Power Plant Units 1 to 4 in Gijang-gun, Busan [Image source=Yonhap News]

[Asia Economy Reporter Donghyun Choi] The government has selected 51 key items to support technology development for small and medium-sized enterprises (SMEs) in the nuclear power sector and will provide 21.5 billion KRW in research and development (R&D) funding.

On the 10th, Jo Juhyun, Vice Minister of the Ministry of SMEs and Startups, discussed the "2022 Technology Development Support Plan for SMEs in the Nuclear Power Sector" with large and small nuclear power companies and related organizations at the Korea Hydro & Nuclear Power Talent Development Institute located in Ulju-gun, Ulsan, and finalized this policy.

Last month on the 12th, the Ministry of SMEs and Startups launched the "Technology Innovation Research Team for SMEs in the Nuclear Power Sector" to restore the technological capabilities of SMEs in the nuclear power field, enhance their self-sustainability, and support securing future competitiveness based on digital technology. The research team consists of 13 experts from large enterprises, SMEs, research institutes, universities, and associations in the nuclear power sector. The team conducted a comprehensive review of sales and workforce trends, companies' technology development demands, and technology and market trends to finalize 51 key items for active support going forward.

Regarding the status of key items, in the "Self-sustainability Enhancement" category, 30 items were confirmed across six major fields: auxiliary equipment and parts, maintenance and decontamination, electrical and instrumentation equipment, mechanical equipment, design and analysis, and main equipment. In the "Future Competitiveness Securing" category, 21 items were decided across five major fields: auxiliary equipment and parts, maintenance and decontamination, electrical and instrumentation equipment, design and analysis, and main equipment.

Technology development for these key items will be supported with a total of 21.5 billion KRW through projects such as the Startup Growth Technology Development Project (3 billion KRW), SME Technology Innovation Development Project (15 billion KRW), and SME Commercialization Technology Development Project (3.5 billion KRW). Detailed project plans are scheduled to be announced on the 11th.

Additionally, on the same day, the Ministry of SMEs and Startups signed a memorandum of understanding with Korea Hydro & Nuclear Power to establish a "Joint Investment-type Technology Development Investment Fund" worth 7.2 billion KRW over three years to promote technology innovation based on win-win cooperation between Korea Hydro & Nuclear Power and SMEs. The fund will be used to secure the technological competitiveness of SMEs in next-generation nuclear power fields, such as automatic precision inspection equipment for reactor heads.

Vice Minister Jo Juhyun stated, "In the nuclear power sector, where safety is paramount, it is crucial to secure the technological capabilities of SMEs that play a key role in safety areas such as defect detection, decontamination, and radiation measurement. We will spare no effort to support SMEs in the nuclear power sector, which are facing a crisis due to sharp declines in sales and workforce, to build self-sustainability and competitiveness in the future nuclear power market."

This content was produced with the assistance of AI translation services.