By Kim Eun-jung

SEOUL, Aug. 14 (Yonhap) -- Heads of HD Hyundai Co., Hyundai Engineering & Construction (E&C) Co. and U.S. nuclear energy firm TerraPower on Friday discussed ways to strengthen cooperation in the small modular reactor (SMR) sector, HD Hyundai said.

HD Hyundai Chairman Chung Ki-sun, TerraPower founder and Chairman Bill Gates, and Hyundai E&C CEO Lee Han-woo met in Seoul to discuss ways to accelerate the commercialization of TerraPower's Natrium advanced reactor, HD Hyundai said.

The meeting came after the three companies signed a memorandum of understanding in May 2025 to cooperate on the Natrium reactor, a next-generation SMR based on sodium-cooled fast reactor (SFR) technology.

Under the agreement, TerraPower will provide reactor technology, shipbuilding conglomerate HD Hyundai will manufacture key equipment and construction firm Hyundai E&C will handle engineering, procurement and construction (EPC).

"We expect to accelerate the commercialization of next-generation reactors through a collaborative framework spanning technology, manufacturing and EPC," Chung said in a release. "We will actively respond to growing demand for SMR power generation by developing our own technologies and collaborating with global companies."

The meeting marked the first between Chung and Gates in seven months, following their talks on the sidelines of the World Economic Forum in Davos, Switzerland. Gates was visiting Seoul to discuss energy projects with major Korean companies and Seoul officials.

HD Hyundai has been expanding its partnership with TerraPower as part of efforts to tap into the U.S. nuclear energy market.

In May, HD Hyundai Heavy Industries Co., the group's affiliate, signed a framework agreement with TerraPower to manufacture and supply key reactor equipment for a sodium-cooled fast reactor.

HD Hyundai is also participating in the production of reactor equipment for TerraPower's 345-megawatt Natrium project in Wyoming.

The Korean company said it plans to accelerate investment in production facilities ahead of commercialization, with the goal of establishing a production system capable of supplying two to three reactor vessels annually.

ejkim@yna.co.kr

(END)

  • BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour
  • From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
  • TWICE's Jeongyeon leaves JYP to pursue acting career
  • Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • (LEAD) Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour

  • From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
  • TWICE's Jeongyeon leaves JYP to pursue acting career
  • Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • (LEAD) Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour

  • Trump signs memo permitting foreign shipbuilders to build up to 2 U.S. ships in their shipyards
  • (2nd LD) Gov't aims to supply over 230,000 additional homes in Seoul metropolitan area to tame housing prices
  • Bill Gates in S. Korea to discuss cooperation in next-generation nuclear reactors
  • (2nd LD) U.S. flags S. Korea, Japan, EU, others over transshipment risks involving China-linked goods