SEOUL, Aug. 14 (Yonhap) -- Prime Minister Han Seong-sook met with Bill Gates on Friday and discussed cooperation on next-generation small modular reactors (SMRs) and energy cooperation between South Korea and the United States, her office said.

Gates, founder of Microsoft and nuclear power company TerraPower, arrived in Seoul on Thursday. His trip drew wide attention as his meetings in Seoul were expected to focus on strengthening cooperation with South Korea in the SMR business.

SMRs are considered the future of nuclear energy because they are designed to be safer, and more flexible, cheaper and faster to build than traditional large-scale nuclear power plants.

During the meeting, Han outlined the government's "three megaprojects" initiative, which calls for a national transformation driven by semiconductors, physical artificial intelligence (AI) and AI data centers, as well as the importance of power supply for the initiative. She also said the country is looking into the energy mix utilizing renewable energy and SMRs.

In particular, Han highly assessed cooperation between South Korean businesses and TerraPower on SMRs.

Gates said South Korea is expected to contribute greatly to carbon neutrality and the SMR ecosystem due to its experiences in building and operating nuclear power plants, and that he will further strengthen partnerships with South Korean companies, according to Han's office.

Gates' visit came just months after TerraPower won the permit from the U.S. Nuclear Regulatory Commission for the construction of its flagship Natrium SMR nuclear power plant, known as Kemmerer Unit 1, in the state of Wyoming. It is the first commercial-scale, advanced nuclear power plant to receive the permit.

South Korean businesses have been expanding partnership with TerraPower.

SK Group is the second-largest shareholder in TerraPower with a US$250 million stake. Shipbuilder HD Hyundai has been named a preferred manufacturer for components of the Natrium reactor enclosure system (RES), while Korea Hydro and Nuclear Power has acquired a $40 million stake in TerraPower.

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