SEOUL, July 22 (Yonhap) -- Samsung Heavy Industries Co., a major South Korean shipbuilder, said Wednesday it has signed a memorandum of understanding (MOU) with U.S. engineering firm Sargent \& Lundy (S\&L) to jointly develop floating small modular reactors (FSMRs).

The agreement aims to develop a standardized FSMR platform that can accommodate a range of reactor technologies rather than a single reactor type, the company said in a press release.

"This will provide unrivaled versatility, enabling the integration of various reactor types and offering global customers greater flexibility in selecting reactor technologies," it said.

The collaboration is expected to combine Samsung Heavy's engineering, procurement and construction (EPC) capabilities for offshore plants with S\&L's nuclear design and engineering expertise, strengthening the shipbuilder's position in the U.S. market.

An FSMR is a next-generation floating nuclear power platform that generates electricity using a small modular reactor (SMR) installed on a floating structure.

In this photo taken on July 21, 2026 (U.S. time), and provided by Samsung Heavy Industries Co., Executive Vice President Kim Kyung-hee (L), head of the Future Business Division at the South Korean shipbuilder, poses with Shiven Sulkar, executive vice president and chief nuclear officer at Sargent \& Lundy, after signing a memorandum of understanding (MOU) on the development of floating small modular reactors (FSMRs) in Washington. (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr
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