South Korea to enter small reactor business

South Korea is panning to enter the small reactor market. The South Korean Ministry of Education, Science and Technology announced on Monday that a consortium of South Korean corporations is developing a small (100 MWe) reactor design, intended primarily for under industrialized nations. The system integrated modular advanced reactors ( SMART) is intended primarily for the international market. The reactor is expected to sell for about $400 million, and thus would have a cost that is roughly competitive with with the Babcock & Wilcox mPower reactor. It is designed to provide heat for desalination, as well as electricity.

Korea which wisely has a national industrial policy. unlike the United States, whose lack of industrial policy has had disastrous consequences in the last generation, plans to be one of the three largest reactor exporters by 2030. in order to accomplish this goal, the Koreans would need a product line, which included both small and standard size reactors.

The Ministry of Education, Science and Technology plans to inject about $80 million into the $150 million dollar project. The state controlled Korea Atomic Energy Research Institute, has organized the project that involves some 13 separate south Korean businesses. The project is far sighted because in the current business climate many world and South Korean businesses are reluctant to invest in new large scale industrial projects. South Korean reports indicates that the SMART will probably include Generation III+ cost saving and safety features.

The SMART marks the third small reactor proposed for entry into the global nuclear market. B&W is developing a similar size LWR, the mPower, while the Indians are marketing their well tested 200 MWe PHWR. In addition, the Chinese are developing a PBMR in the 100 MW to 200 MW range, and new mini reactor projects are popping up in the United States and globally.