Changwon Special City - Doosan Enerbility, Establishing a Global Foundry for the Nuclear Industry

Signing of Business Agreement for 'SMR Industry Promotion and Win-Win Cooperation'

On the 8th, Changwon Special City in Gyeongnam and Doosan Enerbility signed a win-win cooperation agreement at the Doosan Guesthouse to foster the SMR (Small Modular Reactor) industry, a new industrial sector, and to strengthen the competitiveness of the local nuclear industry.

This agreement symbolically represents Doosan Enerbility, the only domestic nuclear power main equipment manufacturer with world-class technology, fostering the SMR industry in Changwon Special City, where a solid nuclear industry value chain is established, and conveys Changwon City's message to become a core city for the SMR foundry.

On the 8th, Changwon Special City in Gyeongnam and Doosan Enerbility signed a win-win cooperation agreement to foster the SMR (Small Modular Reactor) industry and strengthen the competitiveness of the local nuclear industry.

Recently, Doosan Enerbility, which has started manufacturing main equipment for Shin-Hanul Units 3 and 4 nuclear power plants, has also begun the forging production process of the first module to be deployed at the SMR power plant of the U.S. NuScale Power, marking the start of its role as a full-fledged foundry in the nuclear power and SMR main equipment fields.

In addition to this industrial atmosphere, Changwon City plans to strengthen cooperation and support with Doosan Enerbility and local nuclear companies to enhance the SMR foundry functions.

The SMR market, emerging as the future of nuclear power, has slightly different forecasts depending on the research institution, but all commonly predict rapid expansion starting around 2030. ▲The International Atomic Energy Agency (IAEA) forecasts the global SMR market to reach 630 trillion KRW by 2035 ▲The UK's National Nuclear Laboratory estimates the SMR market size to be about 65 to 85 GW by 2035 ▲The Canadian SMR Commission estimates an annual 80 GW and 150 billion Canadian dollars (approximately 135 trillion KRW) between 2030 and 2040.

Hong Nampyo, Mayor of Changwon Special City, said, “Nuclear power will be increasingly spotlighted due to the global trends of energy security and carbon neutrality,” adding, “We will not be satisfied with the present but will maintain a super-gap in the global market by developing the Changwon Defense and Nuclear Convergence New National Industrial Complex as a new growth engine. Furthermore, we will spare no support for Changwon companies to prepare for future markets so that Changwon City can develop into the strongest global foundry city in the nuclear industry.”

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