By Diplomacy Journal Lee Kap-soo

Executive Vice Chairman Chung Kisun met with TerraPower leadership, including chairman and founder Bill Gates in Seoul, Korea, HD Hyundai announced on August 22.

The group reviewed progress on supply chain expansion and the commercialization of Natrium reactors, as well as discussed future cooperation opportunities.

The meeting between the company leaders marked a first reunion in five months since initial talks in the United States last March. During the previous meeting, HD Hyundai and TerraPower signed a memorandum of understanding (MOU) to expand the global manufacturing supply chain for the commercialization of Natrium reactors.

TerraPower’s Natrium reactors, a Generation IV small modular reactor (SMR) sodium-cooled fast reactor (SFR) design with built-in energy storage, are regarded as one of the most advanced SMRs in existence. It offers high thermal efficiency, superior safety, and generates about 40% less nuclear waste compared to conventional reactors, making it widely recognized for its technological maturity and safety advantages.

Leveraging its expertise and manufacturing capabilities in SMRs, HD Hyundai has signed a contract to supply TerraPower with the reactor vessels for the first Natrium reactor*. The existing MOU allows companies to explore expanding the supply chain for Natrium reactors to support the global commercialization of the Natrium technology.

Executive Vice Chairman Chung Kisun commented, “Next-generation SMR technology is a core solution for realizing sustainable future energy. Our partnership with TerraPower will serve as a turning point in building a global nuclear supply chain and advancing the transition in the energy paradigm.”