Industry Vice Minister: SMR Can Be Considered as an Alternative Power Supply for Semiconductors

Ministry of Industry Holds Meeting with CEOs of Nuclear Power Industry

A model of the Korean SMR (Small Modular Reactor) 'SMART' displayed in the lobby of the International Atomic Energy Agency (IAEA) at the Vienna International Centre (VIC) in Vienna, Austria. 2023.5.10 [Image source=Yonhap News]

The government has identified Small Modular Reactors (SMRs) as one of the alternatives to supply power to advanced industries such as semiconductors. SMRs are small reactors with a generation capacity of about 300 megawatts (MW). Compared to large reactors, they have shorter construction periods and can be built near demand centers, making them relatively free from issues related to transmission network installation.

On the 1st, the Ministry of Trade, Industry and Energy held a meeting of nuclear power industry CEOs chaired by Second Vice Minister Choi Nam-ho at the Four Seasons Hotel. Attendees included SK Inc., GS Energy, Hyundai Engineering & Construction, Doosan Enerbility, Daewoo Engineering & Construction, GS Engineering & Construction, Samsung C&T, Woojin Co., Samhong Machinery Co., and Clad Korea.

Second Vice Minister Choi said about SMRs, "They are relatively free in the power system and can be considered as an alternative to supply power to advanced industries such as semiconductors, as recently emphasized by the President." President Yoon Suk-yeol stated at a public discussion on semiconductors on the 15th of last month, "Nuclear power is now essential to supply power to the semiconductor industry," and added, "If we phase out nuclear power, we must give up not only semiconductors but also advanced industries."

For the Yongin semiconductor cluster, it is estimated that a total of 10 gigawatts (GW) of power is required. The government plans to supply 3 GW from liquefied natural gas (LNG) power plants by 2036 and subsequently add renewable energy from the Honam region or nuclear power from the East Coast. Vice Minister Choi’s remarks on this day mentioned that constructing SMRs near the Yongin cluster could also be an alternative.

Vice Minister Choi stated, "Unlike large nuclear power plants, the SMR industry is gradually expanding the role of the private sector to respond to diverse demands," and added, "We will establish and promote a commercialization strategy for SMRs involving private participation within this year." The companies attending the meeting are expected to convey their opinions on current regulatory improvements and business development to the government.

Vice Minister Choi also said that through strengthening the capabilities of domestic manufacturers, Korea will support the development of innovative manufacturing technologies to leap forward as a 'global SMR foundry (manufacturing hub).'

The topic of the meeting, SMRs, are carbon-free power sources expected to lead the future energy market, with advantages such as superior safety and operational flexibility compared to large nuclear power plants. About 80 types of SMRs are being developed worldwide in major countries including the United States, France, and the United Kingdom. The U.S. NuScale model is considered the most advanced.

Korea has started a 400 billion won-scale research and development (R&D) project since last year to develop an indigenous reactor type and will begin preparations this year to establish a foundation for SMR commercialization. Korea aims to develop an innovative SMR with a capacity of 170 MW and obtain standard design approval by 2028. To efficiently promote this, a non-profit foundation called the Innovative SMR Business Group was established and has been operating since February last year.

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