South Korea sets up public-private SMR Alliance

The Alliance is composed of 11 government agencies and 31 private firms.

The South Korean government partnered with the industrial sector to launch an alliance for the small modular reactors (SMR) market to develop the sector’s competitiveness.

In a statement, The Ministry of Trade, Industry and Energy (MOTIE) said the alliance also targets to create business strategies for SMR use and a basis for systemic development.

“The public and private sectors must work together in response to the changes brought about by SMRs. The private sector should come up with trusted business plans, and the government will give full measure to support the growth of the SMR industry," MOTIE Minister Lee Chang-yang said.

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The SMR Alliance, chaired by SK Inc., is composed of 42 entities which include 11 state-run and government agencies such as the MOTIE, Korea Hydro & Nuclear Power, Korea Energy Economics Institute, Export–Import Bank of Korea, Korea Trade Insurance Corporation, and 31 companies.

MOTIE said projects will be launched by a working group in the second half of 2023, and an SMR Committee will be formed to support the SMR ecosystem starting in the first half of 2024.