Korea Hydro & Nuclear Power (KHNP) has partnered with Samsung C&T, a leading South Korean construction company, to jointly pursue nuclear power plant projects abroad. The deal, formalized on Tuesday in Seoul by KHNP President Hwang Joo-ho and Samsung C&T President Oh Se-cheol, outlines their collaboration in several areas. Such as: submitting combined bids for new nuclear initiatives through business-to-business ties, enhancing their edge in major Korean nuclear tenders, and co-developing small modular reactors (SMRs) for international markets. A key focus is pinpointing opportunities in the Asia Pacific, where nuclear demand is set to rise sharply due to rapid urbanization, growing energy needs, and a regional shift toward sustainable, low-carbon power sources.
Hwang Joo-ho emphasized adapting to a shifting global landscape. “We aim to forge a solid alliance with Samsung C&T, tapping into diverse business approaches to break into untapped markets and secure a foothold in high-growth regions,” he said, underlining their proactive strategy.
Oh Se-cheol highlighted the need for tailored strategies. “To spearhead the global nuclear sector, we must craft business models that align with each nation’s energy policies and specific demands. Our combined expertise in large-scale plants and SMRs should spark valuable synergy,” he noted, citing their proven track record on intricate projects.
Earlier this year, KHNP inked cooperation deals with Norway’s Norsk Kjernekraft and Sweden’s Kärnfull Next in January, aiming to expand its European presence with its innovative SMR (i-SMR) technology. The company views these agreements as a response to evolving market trends, noting a shift in the SMR sector toward a flexible model driven by energy consumers and developers, moving away from traditional operator-led frameworks.
Samsung C&T, which played a pivotal role in constructing the Barakah nuclear plant in the UAE, signed its own memorandum with Kärnfull Next last December to push SMR deployment in Sweden. KHNP sees these moves as part of a broader pivot in global nuclear business dynamics.
