Seoul's Ministry of Education, Science and Technology says that that a consortium led by Korea Electric Power Corp. and comprised of 13 local companies, including POSCO and STX Heavy Industries Co., will inject 100 billion won (81.8 million U.S. dollars) into a project to complete design work and technical verification of the system integrated modular advanced reactors (SMARTs)
– Edited by Mark McFadden –
According to a report by Xinhua, South Korea's drive to develop small- and medium-sized nuclear power reactors based on its own technology is expected to be stimulated as a consortium led by a state-owned electric power company has agreed to invest in it.
Seoul's Ministry of Education, Science and Technology said on yesterday that a consortium led by Korea Electric Power Corp. (KEPCO) and comprised of 13 local companies, including POSCO and STX Heavy Industries Co., will inject 100 billion won ($81.8 million U.S. dollars) into a project to complete design work and technical verification of the system integrated modular advanced reactors (SMARTs).
"SMART will be a reactor suitable for developing countries that do not have large-capacity transmission and distribution power grids," Seoul's Yonhap News Agency quoted a government official as saying.
SMART is a 330 MWt pressurized water reactor, designed to generate up to 100 MWe for thermal applications like water desalination. It is more cost-effective and safer than the current generation of conventional reactors. The 170 billion won-worth project is organized by the state-run Korea Atomic Energy Research Institute.
The establishment of the SMART consortium is part of the larger South Korean goal of becoming one of the top three exporters of nuclear reactors, along with the United States and France, by 2030.