By Diplomacy Journal Lee Kap-soo

SK Group Chairman Chey Tae-won and Bill Gates, founder and Chairman of TerraPower, recently met in Seoul to discuss strategic cooperation for the development and commercialization of the Natrium® technology by TerraPower, of which SK is an investor, the group said on August 27.

Also attending the dinner were Ahn Jae-yong, CEO of SK bioscience; Kim Moohwan, Head of the Energy Solution Business at SK Innovation; Chey Yoon-Jung, Head of Business Development at SK Biopharm; and Chris Levesque, President and CEO of TerraPower.

At the meeting, Chairman Chey commented, “I believe that Korea and SK can play a critical role in the commercialization of TerraPower’s advanced nuclear designs. Let’s work together to enhance market acceptance, leveraging the safety, efficiency, and clean power of the next generation of nuclear technologies.”

In August 2022, SK Inc. and SK Innovation jointly invested $250 million (USD) in TerraPower and have continued to cooperate on the commercialization of TerraPower’s advanced reactor technology and global business expansion. SK Inc. and SK Innovation are part of SK Group, South Korea’s second-largest conglomerate.

In March 2023, SK Innovation, Korea Hydro & Nuclear Power (KHNP), and TerraPower signed an MOU for the development and commercialization of next-generation nuclear plants, and have since been cooperating on the demonstration and commercial reactor development for TerraPower’s Natrium technology, a sodium-cooled fast reactor (SFR)-based Gen-4 reactor.

Last year, TerraPower began construction on the first commercial-scale advanced reactor project in Wyoming, with the project progressing toward anticipated completion by 2030.

Chris Levesque, TerraPower President and CEO said, “We have received great support from SK since they joined our visionary investor base in 2022 and began participating on our Board. There is strong alignment between our technology solutions and SK’s industry-leading businesses. We see many opportunities for collaborations with SK in Korea and in the global marketplace.”