SMR Research and Industry Global Hub ... Gyeongbuk Leads the Way!

Promotion of SMR National Industrial Complex, Securing National Funding for Global Nuclear Joint Campus

Accelerating the Creation of a Leading Global SMR R&D Innovative Nuclear Research Complex

Aerial view of the Innovation Nuclear Research Complex.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gui-yeol] Gyeongbuk Province plans to leap forward as a global hub for SMR research and industry by developing Small Modular Reactor (SMR) R&D and establishing a related industrial ecosystem, aiming to build the strongest nuclear power nation.

The global nuclear power market, once dominated by large nuclear power plants, is rapidly shifting to Small Modular Reactors, which can supply diverse demand, have lower construction costs due to modularization, and are versatile for uses such as replacing thermal power, hydrogen production, and seawater desalination. Countries are fiercely competing to secure the future SMR market.

According to an IAEA (International Atomic Energy Agency) report, 71 types of SMRs are being developed in over 20 countries worldwide, and the UK's National Nuclear Laboratory predicts the SMR market size will reach 620 trillion KRW by 2035.

Recently, the Yoon Seok-yeol administration announced national nuclear ecosystem restoration and nuclear power export as government tasks, investing in large-scale R&D projects to secure future nuclear technologies such as next-generation independent SMR designs, and declared its intention to restore the status of the strongest nuclear power nation by expanding nuclear power, a carbon-free energy source.

Accordingly, Gyeongbuk Province is promoting the construction of the Munmu Daewang Science Research Institute in the Gampo-eup area of Gyeongju, which will become the cradle of domestic SMR R&D, targeting completion in 2025.

To attract a national industrial complex linked to the research institute, the province is swiftly conducting feasibility studies to respond to candidate site selections for the national industrial complex and is actively working to establish an SMR R&D and industrial ecosystem.

The Munmu Daewang Science Research Institute construction project is valued at 654 billion KRW (270 billion KRW from the national government), covering 11.45 million square meters, with 16 research facility buildings.

Utilizing the High-Temperature Gas Reactor (HTGR), an SMR suitable for hydrogen production, the project aims to build R&D infrastructure for mass production of green hydrogen, known as future energy, and to industrialize hydrogen storage, transportation, and utilization through nuclear hydrogen production demonstration and national industrial complex establishment.

Additionally, the global nuclear joint campus construction project received national funding in 2023, and it is expected that the nuclear professional workforce training project will be systematically implemented through the establishment of an educational research reactor.

Recently, Governor Lee Cheol-woo met with Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry and said, “I heard that SK Group recently invested 300 billion KRW in TerraPower, a US SMR design company founded by Bill Gates,” and requested active investment in the SMR national industrial complex being promoted in Gyeongbuk, continuing his vigorous efforts to attract global conglomerates related to SMR.

“With global interest in small reactors rising and technology development competition accelerating, Gyeongbuk will lead the era of nuclear power resurgence by securing the world’s best technology through comprehensive support for the entire nuclear power cycle from R&D to construction, dismantling, and storage.”

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