The US, Japan and South Korea sign agreement on SMR cooperation
The United States, Japan and South Korea signed a trilateral agreement in July on cooperation in deploying small modular reactors (SMRs). The document outlines opportunities for mutually beneficial interaction among the nuclear industries of the three countries, OilPrice reports, citing the US State Department.
Cooperation on SMRs
According to the State Department's description, the framework agreement is intended to facilitate the creation of models for the serial deployment of reactors. They are designed to reduce project preparation risks, ensure economies of scale, attract private investment, simplify licensing and optimize supply chains.
The State Department said that a coordinated approach could help US, Japanese and South Korean companies offer partners in the region more competitive solutions to meet growing energy demand. The statement also emphasizes compliance with high standards of nuclear safety, security and non-proliferation.
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Energy security
OilPrice notes that Japan and South Korea are stepping up the development of nuclear energy as part of their own energy security strategies. The publication links growing interest in nuclear generation to rising electricity demand, including due to the development of artificial intelligence systems, as well as risks to international fossil fuel supplies.
According to OilPrice's assessment, the cooperation also has a geopolitical dimension: Washington is interested in Japanese and South Korean companies competing with suppliers of reactor technologies from China and Russia. At the same time, traditional nuclear reactors, according to the publication, still dominate among new capacity additions, although interest in SMRs is growing.
