South Korea to invest $1.8 bn in SMR technology development

[Courtesy of Korea Atomic Energy Research Institute]

The South Korean government is launching a new program to develop and demonstrate next-generation nuclear reactor technology with a total investment of 2.48 trillion won ($1.8 billion). Named K-ARDP, this initiative aims to foster private companies with advanced reactor design capabilities and accelerate commercialization via public-private collaboration in technology development and demonstration.

The Ministry of Science and ICT announced on Tuesday that its Advisory Council on Science and Technology had approved the plan. The project will be funded with 1.65 trillion won from the government and 832 billion won from the private sector within a timeframe spanning from 2026 to 2034. The program’s goal is to cultivate two specialized next-generation reactor design companies by the 2030s.

K-ARDP will proceed in two phases based on the current technological maturity: a short-term demonstration phase and a mid-to-long-term strategic phase. The short-term phase focuses on reactor types that can apply for construction permits within four to five years. The mid-to-long-term phase will concentrate on developing reactor types requiring six to nine years to secure key technologies.

The plan includes establishing a roadmap for next-generation nuclear technology development and demonstration by the end of 2024. The government aims to secure the core technologies for innovative small modular reactors (i-SMRs) and complete their standard design by 2025. This initiative is part of a broader strategy to enter the global SMR market in the 2030s, promoting commercialization both in Korea and internationally. To support this, the government plans to establish commercialization entities, including i-SMR Holdings, and develop intellectual property management strategies.

The government will also create a safety regulatory framework to accompany the new technology development. This framework will ensure the safety of the innovative technologies applied to i-SMRs before applying for standard design approval. For non-light water reactors, the government plans to establish safety regulations, standards, and technology by the early 2030s.

“Next-generation nuclear energy is a crucial source that must be developed alongside industries such as digital and artificial intelligence, chemical, and shipbuilding and marine industries,” Science and ICT Minister Lee Jong-ho said. “The government will ensure that a systematic next-generation nuclear policy and stable funding is in place, while the private sector will lead the way. We will prepare a concrete roadmap, introduce large-scale projects like K-ARDP, and develop a timely regulatory framework.”