The Korea Atomic Energy Research Institute (“KAERI”) and Hyundai Engineering Co., Ltd. (“Hyundai Engineering”) have formalized their collaboration by signing a memorandum of agreement (MOA) aimed at advancing international projects involving SMART technology.

The MOA between KAERI and Hyundai Engineering is geared towards facilitating the commercialization of SMART (System-integrated Modular Advanced ReacTor). The signing ceremony, attended by Dr. Han Gyu Joo, President of KAERI, and Mr. Hyun-seong Hong, CEO of Hyundai Engineering, took place in Daejeon on December 11th.

KAERI had previously signed an agreement in April with the Province of Alberta, Canada, regarding the utilization of SMART. Subsequently, in September, it broadened overseas partnership by entering into a Memorandum of Understanding (MOU) with Atomic Energy of Canada Limited (AECL), demonstrating its ongoing commitment to SMART's commercialization in Alberta and Ontario.

The new agreement solidifies the collaborative efforts of KAERI and Hyundai Engineering, who will actively collaborate on exploring SMART projects in Canada and other global regions. The focus will be on establishing a local presence in Canada to accelerate the progress of the SMART project.

Dr. Joo emphasized the significance of the business agreement, stating, "This marks the beginning of a strategic collaboration. Together with Hyundai Engineering, we anticipate setting a new global standard in nuclear technology, positioning Korea at the forefront of the next generation of nuclear energy innovation."