Jay Y Lee, Chey Tae Won, and Chung Ki Sun Hold Successive Meetings with Bill Gates to Discuss Nuclear Power and Social Contribution (Comprehensive)

Samsung Discusses Global Social Contribution Cooperation
Presidents of Samsung C&T and Samsung Global Research Attend the Meeting
SK Expands SMR Commercialization and Vaccine Cooperation with TerraPower
HD Hyundai Strengthens Sodium Reactor Supply Chain and Shipbuilding Technology Collaboration

Samsung Electronics Chairman Jay Y Lee met with Bill Gates, Chairman of the Gates Foundation, to discuss ways to collaborate on global social contribution initiatives. SK Group Chairman Chey Tae Won held consecutive meetings with Chairman Gates to discuss cooperation on small modular reactors (SMRs) and vaccines, while HD Hyundai Senior Vice Chairman Chung Ki Sun focused on the commercialization of sodium reactors during his meeting with Gates.

According to the business community on August 22, Chairman Lee had lunch with Chairman Gates at the Samsung Electronics Seocho office in Gangnam-gu, Seoul, where they discussed cooperation for global corporate social responsibility (CSR) activities. President Oh Se Cheol of Samsung C&T and President Jang Seok Hoon of Samsung Global Research also attended the meeting, discussing collaboration in the construction sector and CSR, respectively.

Samsung Electronics Chairman Jay Y Lee is seeing off Bill Gates, chairman of the Gates Foundation, who joined him for lunch during his visit to the Samsung Electronics Seocho building on the 22nd. Samsung Electronics

Samsung Electronics had previously completed the 'Reinvent the Toilet (RT) Project,' initiated by the Gates Foundation in 2011 to improve sanitation in underdeveloped countries, after three years of research and development. During this process, Chairman Lee maintained direct communication with Chairman Gates via email, phone calls, and video conferences, even during the pandemic, to oversee the project.

In August 2022, when Chairman Gates visited Korea, Chairman Lee expressed his intention to contribute to solving global challenges through Samsung's technology, and Chairman Gates thanked Samsung for its dedicated efforts.

The previous day, Chairman Chey Tae Won had dinner with Chairman Gates at the SK Seorin Building in Jongno-gu, Seoul, where they discussed strategies for the commercialization of SMRs by TerraPower, in which SK is the second-largest shareholder, as well as expanding cooperation in the vaccine sector. Chairman Gates founded TerraPower in 2008 and currently serves as chairman of its board.

Chairman Chey stated, "Korea and SK can play a crucial role in the commercialization of SMRs," expressing his commitment to cooperation. Chairman Gates responded, "The regulatory framework and supply chain development by the Korean government are key to rapid deployment."

Bill Gates, chairman of the Gates Foundation (center), is entering the Samsung Electronics Seocho building on the 22nd for a lunch meeting with Samsung Electronics Chairman Jay Y. Lee. Samsung Electronics

On the morning of the same day, a series of meetings between Chairman Gates and SK officials also took place at the Conrad Hotel in Yeouido, Seoul. Minister of Trade, Industry and Energy Kim Jung Kwan and Chairman Gates were joined by Lee Hyung Hee, Chairman of the SK SUPEX Council's Communication Committee, and Kim Moo Hwan, Head of SK Innovation's Energy Solution Division. During the meeting, SK and TerraPower explained the current status of their SMR development project, which is being pursued jointly with Korea Hydro & Nuclear Power.

The sodium (Natrium) SMR being developed by TerraPower is a fourth-generation reactor that features passive air cooling and integrated thermal energy storage, making it highly safe and easily adjustable in output. It generates 40% less nuclear waste than conventional reactors and is more compatible with renewable energy, earning it recognition as the most technologically advanced SMR currently in existence. SK requested government support through incentives, strengthened global partnerships, and regulatory improvements to secure a leading position in the global market.

HD Hyundai Senior Vice Chairman Chung Ki Sun also met with Chairman Gates on the same day to review progress on expanding the sodium reactor supply chain and commercialization, following up on their meeting in the United States in March. At that time, HD Hyundai and TerraPower signed an agreement to expand their manufacturing supply chain, and HD Hyundai is expected to supply the reactor vessels, which are key components. Vice Chairman Chung stated, "Next-generation SMR technology is the key to a sustainable future energy system," pledging to accelerate the establishment of a global supply chain and the transformation of the energy paradigm.

Chairman Chey Tae-won of SK (right in the photo) and Bill Gates, Chairman of the Gates Foundation, shake hands on the 21st at the SK Seorin Building in Jongno-gu, Seoul. SK
Photo by SK

HD Hyundai has also begun collaborating with TerraPower to develop molten salt reactor technology for application in shipbuilding, aiming to develop ships powered by SMRs.

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