[ Hyundai E&C-KAERI Business Agreement Signing Ceremony. At Hyundai E&C headquarters, Hyundai E&C President Yoon Young-joon (right) and Korea Atomic Energy Research Institute (KAERI) President Joo Han-gyu (left) pose for a commemorative photo after signing the agreement for the “Public-Private Partnership for Sodium-cooled Fast Reactor Development Project” ]

Hyundai E&C is enhancing its competitiveness to lead the next-generation nuclear power industry through collaboration with the leading comprehensive nuclear R&D institute in the country, while gearing up to drive the global energy market.

On the 11th, Hyundai E&C signed a business agreement with the KAERI at its headquarters in Gyedong, Jongno-gu, Seoul, to develop a sodium-cooled fast reactor (SFR) through a public-private partnership. The signing ceremony was attended by key members from both firms, including Hyundai E&C President Yoon Young-joon and KAERI President Joo Han-gyu. 

The agreement will allow both parties to set out for close collaboration on various aspects related to the next-generation sodium-cooled fast reactor (SFR). This includes △development projects, △domestic and international demonstration projects, △exclusive participation in commercialization and export, △joint research and intellectual property (IP) technology transfer, as well as △ personnel support and the operation of a mutual consultation body.

Unlike light-water reactors that use thermal neutrons, the sodium-cooled fast reactor (SFR) uses fast neutrons to induce nuclear fission and uses liquid sodium(Na) instead of water as a coolant. As a core model of 4th generation reactors*, it is highly regarded as a next-generation nuclear power plant due to its excellent economic efficiency, sustainability, and safety. This is because SFR can recycle spent nuclear fuel, thereby improving uranium utilization and significantly reducing the amount of high-level radioactive waste.

*Compared to current 3rd generation reactors in service, 4th generation reactors are future-oriented and innovative reactors with dramatically improved sustainability, safety, reliability, economic efficiency, and resistance to nuclear proliferation. These include sodium-cooled fast reactors (SFR), molten salt reactors (MSR), lead-cooled fast reactors (LFR), gas-cooled fast reactors (GFR), very-high-temperature reactors (VHTR), and supercritical water-cooled reactors (SCWR), categorized based on the type of coolant used.

Since signing a strategic business agreement in 2022, Hyundai E&C and the KAERI have been collaborating in various areas of the nuclear industry, including light-water reactor SMRs, non-light-water reactor SMRs such as molten salt reactors (MSR), NPP decommissioning, and hydrogen production using nuclear energy. With this new agreement, the two organizations plan to focus on advancing sodium-cooled fast reactor technology and laying the groundwork for its commercialization, thereby strengthening the industrial competitiveness of 4th generation reactors.

In light of the anticipated explosive growth of the global energy market driven by next-generation reactors, extensive policies and support are being implemented to enhance the competitiveness of Korean nuclear power companies, addressing market changes and demand.

In response, Hyundai E&C plans to actively contribute to creating a nuclear innovation ecosystem by collaborating with both public and private sectors. By sharing R&D achievements developed and accumulated under government leadership, the company aims to rapidly secure core technology for sodium-cooled fast reactors and lay the foundation for their demonstration and commercialization.

A Hyundai E&C representative said: "This agreement is expected to accelerate not only the development and deployment of existing light water reactor SMRs, but also the acquisition of technical capabilities for next-generation reactors. We aim to strengthen our presence in the new global energy market by laying the foundation for energy security and actively pursuing overseas market entry through multifaceted cooperation."