The Ministry of Science and ICT (Minister Lee Jong Ho, MSIT) conducted the "MoU Signing Ceremony for Public-Private Cooperation on Next-Generation Reactor Development" with eight Korean companies interested in next-generation reactors at the Four Seasons Hotel in Seoul on Wednesday, March 20th.
This ceremony aimed to publicly announce and promote the collaboration between the government and businesses for the advancement of next-generation nuclear reactors. Attendees included Vice Minister of Science and ICT, Lee Chang Yune, representatives from the eight signing companies, and President Ju Han-kyu of the Korea Atomic Energy Research Institute.
As nuclear power is emerging as a crucial strategic technology amidst the global climate crisis and energy supply chain restructuring, the competition for next-generation nuclear reactors, such as small modular reactors (SMRs) and non-light water reactors, intensifies worldwide. Recognizing this, the government has proactively pursued key technology acquisition for next-gen nuclear reactors. However, to swiftly respond to evolving market demands and efficiently leverage previous R&D achievements, a wider range of involvement and investment from the private sector are essential.
The MoU on Public-Private Cooperation for Next-Generation Nuclear Reactor Development is anticipated to facilitate the dissemination of government-led R&D achievements to the private sector and foster private-led technology development, demonstration, and commercialization. Through this agreement, both MSIT and participating companies reaffirmed their dedication to next-gen nuclear reactor development and committed to ongoing collaboration for joint technology development, technology transfer, license acquisition, and human resource development. A public-private council is also set to be established to ensure the effective implementation of the MoU.
During the ceremony, discussions were held regarding the current status and future direction of Korea's next-generation nuclear reactor development. The Korea Atomic Energy Research Institute presented the current status and plans for next-gen reactor technology development, while the Ministry of Science and ICT outlined the "Strategy for Promoting Public-Private Cooperation on Next-Generation Reactors," announced in February, along with the basic direction for establishing a next-generation reactor research association. Subsequent to these presentations, a constructive dialogue took place among participants, emphasizing the necessity of public-private collaboration to propel Korea forward as a leading nation in next-generation reactors and deliberating on specific areas of cooperation such as technology transfer and licensing.
"In order to assume a leading position in the rapidly evolving nuclear power market, the role of the private sector capable of agile and flexible responses is pivotal," remarked Vice Minister Lee Chang Yune. He further added, "Building upon today's public-private partnership MoU, we are fully committed to offering dedicated support for Korean companies to emerge as frontrunners in next-generation nuclear reactors, encompassing technology transfer, licensing assistance, and the establishment of a research association."
For further information, please contact the Public Relations Division (Phone: +82-44-202-4034, E-mail: msitmedia@korea.kr) of the Ministry of Science and ICT.
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