HD Hyundai Heavy Industries, in collaboration with 11 other entities including shipbuilding companies, nuclear firms, and prestigious universities in South Korea, has established a small marine reactor (SMR) testing center. This center is known as the "SMR Marine Technology Demonstration Center" and will promote nuclear-powered ships.
Collaboration of Entities
In this collaboration, HD Hyundai Heavy Industries and HD Korea Shipbuilding & Offshore Engineering, along with KEPCO Engineering & Construction, Hyundai Engineering & Construction, Korean Register, Hyundai Heavy Industries Turbomachinery, Clad Korea, and Ulsan Technopark are participating. The universities UNIST, Seoul National University, KAIST, and Hanyang University have also joined this 12-member group.
Development of Nuclear Capabilities
HD Hyundai is gradually strengthening its capabilities in the nuclear sector. The company previously announced that it is collaborating with TerraPower and CORE POWER on marine reactors based on molten salt fast reactor technology. Additionally, HD Hyundai invested $30 million in TerraPower last year.
Last year, Bill Gates met with Chang Ki-sun, Executive Vice President of HD Hyundai, in Seoul, where both parties discussed and deepened their collaborations. HD Hyundai plans to invest 300 billion won (approximately $206 million) by 2030 for the development of nuclear-powered ships.
Rapid Advancements in Ship Design
The HD Hyundai Group is quickly moving from research to the design of ship concepts. In March, the group collaborated with ABS to develop a nuclear electric propulsion system for a 16,000 TEU container ship. Also, at the Posidonia exhibition in June, Lloyd’s Register confirmed the concept of a large vehicle carrier powered by SMR that uses a salt reactor.
HD Hyundai has also played a significant role in TerraPower's Natrium program as the preferred manufacturer of reactor vessel components and has previously explored floating SMR energy and hydrogen production platforms.
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