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NuScale Power President and CEO John L. Hopkins, second from left, and GS Energy CEO Huh Yong-soo, third from left, pose for a photo after signing an MOU at GS headquarters in Seoul, April 26. Courtesy of GS Energy

By Kim Jae-heun

GS Energy is joining hands with Doosan Enerbility, Samsung C&T and NuScale Power to develop small modular reactors (SMRs), a nuclear energy technology which some consider a more realistic means to achieve carbon neutrality. NuScale Power is one of the world's leading SMR technology companies.

The three local firms and the U.S. company signed a memorandum of understanding (MOU) at GS Energy's headquarters in Gangnam District, Seoul, April 26, to cooperate in jointly building and operating SMRs around the world.

NuScale Power is the only company in the world that is certified by the U.S. Nuclear Regulatory Commission to design SMRs. Not only do the firm's SMRs produce electricity, but they also produce hydrogen using high-temperature steam, as well as supply process heat for industrial complexes and seawater desalination.

A power plant using a NuScale SMR will be built and commercially operated in the U.S. state of Idaho by 2029.

Through the MOU, the four companies can expect synergy between NuScale Power's SMR technology, GS Group's power plant operation capability, Doosan Enerbility's nuclear power plant supply capability and Samsung C&T's power plant construction capability.

"Carbon neutrality is an irresistible mission of the current world and I believe SMRs are the most effective way to fulfill it. We expect that the world's best SMR technology and Korea's superior capabilities in generating nuclear power will contribute greatly to the world," GS Energy CEO Huh Yong-soo said.

"Today's MOU is an important milestone in providing carbon-free, stable and economical energy throughout Asia. NuScale will cooperate with Korean investors to supply clean energy to the world within the next 10 years," NuScale President and CEO John L. Hopkins said.