“X-energy has received an investment of USD 700 million (approximately KRW 970.3 billion) from Amazon and others, with the goal of constructing 60 Small Modular Reactors (SMR) by 2039. Cooperation with Korea is essential to achieve this.”

On the 10th, Benjamin Reinke, Senior Vice President of Global Business at X-energy, a U.S. SMR developer, met at Space Chae-bi in Jung-gu, Seoul, and emphasized cooperation with Korean companies, mentioning the Memorandum of Understanding (MOU) signed with Korea Hydro & Nuclear Power, Amazon, and Doosan Enerbility following the Korea-U.S. summit last month. He visited Korea for business discussions with DL E&C.

He stated, “The MOUs signed with KHNP and others in the SMR industry following the Korea-U.S. summit are expected to amplify the cooperative relationship between Korea and the U.S.,” adding, “The capabilities of Korean companies in supplying key equipment and design are essential for business expansion.” He also noted, “Constructing 60 SMRs is not easy with only the U.S. supply chain. The scope of cooperation in SMR design and construction is expected to expand with major partners like DL E&C and Team Korea.”

He also highlighted the network that Korean companies have built in Southeast Asia as an advantage. He said, “There is a significant demand for electricity in Southeast Asia due to the development of the heavy industry, and Singapore, with its high population density, is very interested in SMRs.” Although the current market is limited to North America and Europe, cooperation with Korean companies could expand the market to Southeast Asia and the Middle East.

Due to the nature of SMRs, which integrate various technologies, international cooperation is essential. Reinke evaluated the Korean and U.S. governments as “definite” in supporting SMRs. He continued, “The Korean government is supporting the expansion of the nuclear power industry,” and explained, “The U.S. government started SMR development during the Barack Obama administration, introduced the Advanced Reactor Demonstration Program (ARDP) when Donald Trump was first elected, and under Joe Biden, the project budget was executed, with current support increasing.”

Securing safety is considered a prerequisite for the commercialization and proliferation of SMRs. Reinke emphasized, “The key to safety is the quality of the fuel, and X-energy is the only SMR developer that ensures quality with its self-developed fuel (TRISO-X),” adding, “The melting point of the fuel is higher than the temperature generated when uranium undergoes fission, making it physically less risky.”

He also viewed a systematic financial support structure as necessary to accelerate SMR commercialization. Reinke stated, “If more SMRs are built, a considerable amount of investment will be required,” and added, “Support from government levels, including export-import banks of the U.S. and Korea, as well as the private sector, should back this.”

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