South Korea to Commercialize Light Water Small Modular Reactors by 2035

The South Korean government is set to commercialize light water small modular reactors (SMRs) by 2035. It plans to increase its stockpile of critical minerals to a maximum of one year’s supply and invest 10 trillion won in research and development (R&D) over the next five years. This initiative comes as officials recognize that relying solely on existing key industries will not guarantee future growth, prompting a focus on advanced technology development aimed at the next 10 to 20 years.

On August 12, the Ministry of Trade, Industry and Energy held a joint meeting with relevant departments at the Blue House to announce plans for related projects during the 'Future Growth Engine 7 SEED Meeting.' SEED stands for 'strategic investments needed for disruptive innovation and future growth engines.'

The government has identified seven key areas: SMRs, nuclear fusion, breakthrough renewable energy, quantum technology, space and aviation, advanced biotechnology, and critical minerals and materials. These areas are broadly categorized into future clean energy, next-generation frontiers, and advanced supply chains.

Starting in 2027, the government aims to begin detailed design work for SMRs in collaboration with the private sector, targeting commercialization by 2035. For non-light water SMRs, a special purpose company (SPC) will be established for joint public-private investment, with construction planned for the 2030s. A technology-neutral and performance-based regulatory framework will be developed by 2030 to evaluate various SMR designs and purposes.

In the nuclear fusion sector, the government plans to develop a virtual fusion reactor using artificial intelligence (AI) and establish a testing infrastructure for key components and equipment in Naju, Jeollanam-do. Through public-private collaboration, South Korea aims to build an innovative fusion reactor by 2035, with plans for power generation by the late 2030s and commercial power supply in the 2040s.

In renewable energy, the focus will be on developing perovskite tandem cells with over 35% efficiency and ultra-large wind turbine technology exceeding 20 MW. The government also plans to demonstrate a 50-100 MW electrolysis system, localize gigawatt-level high-voltage direct current (HVDC) technology, and test superconducting transmission networks.

In the quantum sector, the goal is to secure a 100-qubit quantum processor (QPU) capable of error correction by 2029. South Korean companies will lead the development of quantum computers equipped with quantum chips, control devices, and operating software, while establishing a public-private joint 'K-Quantum Foundry.' The government aims for South Korea to become the world leader in quantum chip manufacturing by 2035.

In the space and aviation sector, plans include launching a lunar orbit communication satellite by 2029 and a privately-led 700 kg lunar lander in 2030. By 2032, an 1800 kg lunar lander will be launched, and a South Korean low-orbit satellite communication network is expected to be established by 2035.

In advanced biotechnology, infrastructure such as AI models specialized in cancer, autonomous laboratories, and biofoundries will be built by 2030. Products that allow users to input text or operate machines using only their thoughts, known as brain-computer interface (BCI) products, are targeted for commercialization by 2035.

In the supply chain sector, the government aims to increase the recycling rate of 10 key critical minerals to 20% by 2030. The number of items designated for stockpiling will increase from 24 to 29, with stockpiles expanded from a maximum of 180 days to 365 days. The Saemangeum stockpile base is expected to be operational by 2028.

The government will invest 10 trillion won in R&D for key materials and components over the next five years. Of this, 5 trillion won will be allocated to the '15 Major Co-Growth Projects,' where anchor companies and partner firms will jointly develop technology and pursue testing and overseas expansion. A new fund to support securing critical minerals from abroad is also in the works.

The government plans to establish a joint public-private 'Future Exploration Task Force' and will monitor the detailed roadmaps and progress of each project through meetings of science and technology ministers. However, specific investment amounts and funding methods for each project were not detailed in this announcement. The government intends to clarify these aspects in future roadmaps.