▲ This photo, provided by South Korea's industry ministry, shows Minister Lee Chang-yang (R) shaking hands with Chris Levesque, CEO of U.S. nuclear energy company TerraPower, ahead of their meeting in Seoul on July 7, 2023. (PHOTO NOT FOR SALE) (Yonhap)

S Korea-US nuclear firm

S. Korea's industry chief, U.S.' TerraPower CEO discuss small nuclear reactors

SEOUL, July 7 (Yonhap) -- South Korea's industry chief met with the head of U.S. nuclear energy company TerraPower on Friday and discussed ways of cooperation on the development of advanced small modular reactors (SMRs), the industry ministry said.

During the meeting in Seoul, TerraPower CEO Chris Levesque introduced his firm's technologies to develop a next-generation SMR and related plans, and Minister Lee Chang-yang stressed the Seoul government's commitment to supporting cooperation between South Korean and American companies on the field, according to the Ministry of Trade, Industry and Energy.

Founded by Microsoft Corp. founder Bill Gates in 2008, TerraPower has maintained close business ties with South Korean companies, including the state-run Korea Hydro & Nuclear Power Co. (KHNP) and SK Inc.

In April, SK, SK Innovation Co. and the KHNP signed an agreement with TerraPower to collaborate on the commercialization of an advanced reactor.

TerraPower is developing a Natrium advanced reactor, a sodium-cooled fast reactor with a molten salt-based energy storage system, with a goal to put it into operation in around 2030. The fourth-generation reactor can significantly boost the power output, experts say.

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