HD Hyundai Pioneers Offshore Nuclear Market... Technology Exchange Meeting with Terror Power and Others

Dispatch of R&D Team to TerraPower Starting March This Year

Conceptual diagram of nuclear power plant line development cooperation between HD Hyundai and global SMR leading companies. Photo by HD Hyundai

HD Hyundai is collaborating with leading global Small Modular Reactor (SMR) companies to pioneer the offshore nuclear power market.

HD Hyundai's shipbuilding intermediate holding company, HD Korea Shipbuilding & Offshore Engineering, announced on the 4th that it recently held a technology exchange meeting in Washington State, USA, with TerraPower, Southern Company, and the UK-based Core Power to jointly develop molten salt reactors.

The molten salt reactor that HD Korea Shipbuilding & Offshore Engineering is jointly developing is one of the 4th generation reactors, recognized for its safety and high efficiency, making it optimal for offshore nuclear power generation.

In November 2022, HD Hyundai made a full-scale entry into next-generation energy technology by investing $30 million (approximately 40.1 billion KRW) in TerraPower.

Through this joint research, HD Korea Shipbuilding & Offshore Engineering plans to accelerate the development of the offshore nuclear power market, which is gaining attention as a next-generation clean energy source.

To this end, since March this year, HD Korea Shipbuilding & Offshore Engineering has dispatched an SMR research and development team to TerraPower in the United States and will continue cooperation with these companies across various fields, including nuclear-powered vessels and new nuclear application businesses. Additionally, they plan to actively work on establishing regulatory frameworks for offshore reactor applications in collaboration with the International Atomic Energy Agency (IAEA) and major global classification societies (ABS, LR).

An HD Hyundai official stated, "To lead the future energy market, including zero-carbon nuclear-powered vessels, we will strengthen research and development by forming strategic partnerships with global top-tier companies."

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