Korea Eximbank Discusses Financial Cooperation Plans with US Small Modular Reactor Company

by Yoo Jaehoon

Published 26 Apr.2022 14:02(KST)

Visiting Executive Director Bang Moon-kyu Meets with U.S. NuclePower Management

Korea Eximbank Discusses Financial Cooperation Plans with US Small Modular Reactor Company

[Asia Economy Reporter Yu Je-hoon] The Export-Import Bank of Korea discussed cooperation plans with NuScale Power, a U.S. small modular reactor (SMR) company.

According to the bank on the 26th, President Bang Beom-gyu met with NuScale Power executives at the bank's headquarters in Yeouido, Seoul, the previous day to discuss financial support measures for the SMR demonstration project currently underway in Idaho, USA.

SMRs are nuclear reactors with a power generation capacity of about 300 MW that can be manufactured and assembled in factories. They can also be utilized in the future for hydrogen production and seawater desalination.

During the meeting, President Bang also exchanged views on financial support measures needed if domestic related companies jointly enter third countries with NuScale Power.

Meanwhile, NuScale Power is a leading company in the SMR field that received the first design certification from the U.S. Nuclear Regulatory Commission (NRC) in 2020.