Bill Gates, Chairman of the U.S. company TerraPower, who visited Korea, met with Jeong Ki-sun, Executive Vice Chairman of HD Hyundai, to discuss cooperation in the field of small modular reactors (SMR).

On the 22nd, HD Hyundai announced that Executive Vice Chairman Jeong Ki-sun met with Chairman Bill Gates and TerraPower executives to review the progress of expanding the supply chain and commercializing the 'Natrium Reactor' and discussed future cooperation plans.

Prior to visiting HD Hyundai, Chairman Bill Gates met with SK, the second-largest shareholder of TerraPower, to discuss cooperation plans in the SMR and bio sectors. The dinner on the 21st with SK Group Chairman Chey Tae-won was attended by Ahn Jae-yong, President of SK Bioscience, Kim Moo-hwan, Head of SK Innovation's Energy Solution Division, and Choi Yoon-jung, Head of SK Biopharm's Business Development Division. Chris Levesque, CEO of TerraPower, also attended the dinner with Chairman Bill Gates. In line with Chairman Gates' visit to Korea, the Gates Foundation also held a meeting with SK Bioscience to discuss cooperation for global health promotion. On the morning of the 22nd, Chairman Bill Gates and the Gates Foundation met with SK. From SK, Lee Hyung-hee, Chairman of the SK SUPEX Council Communication Committee, and Kim Moo-hwan, Head of SK Innovation's Division, attended, along with key government officials such as Kim Jeong-gwan, Minister of Industry, Trade and Resources, and Ahn Se-jin, Director of the Nuclear Power Industry Policy Bureau.

The meeting between Executive Vice Chairman Jeong Ki-sun and Chairman Bill Gates is approximately five months after their last meeting. In March, they met in the U.S. and signed a 'Memorandum of Understanding for the Expansion of the Manufacturing Supply Chain for the Commercialization of the Natrium Reactor.' The Natrium Reactor developed by TerraPower is a fourth-generation SMR using a sodium-cooled fast reactor (SFR) method with energy storage capabilities. It is characterized by excellent thermal efficiency and safety, reducing nuclear waste by about 40% compared to existing reactors. It is evaluated as having the highest safety and technical completeness among existing SMRs.

HD Hyundai plans to supply reactor vessels, which are key equipment for the Natrium Reactor, to TerraPower based on its technology and manufacturing capabilities in the SMR field. Through the previously signed memorandum of understanding, both companies are also exploring ways to expand the supply chain to support the global commercialization of the Natrium Reactor.

Executive Vice Chairman Jeong Ki-sun stated, "Next-generation SMR technology is a key solution for realizing sustainable future energy," and added, "The cooperation between the two companies will serve as a catalyst for building a global nuclear power supply chain and accelerating the energy paradigm shift."

Chris Levesque, CEO of TerraPower, said, "HD Hyundai, as the world's leading shipbuilding company with specialized manufacturing capabilities, will play an important role in the global nuclear industry," and added, "Through this cooperation, we will accelerate the commercialization of the Natrium Reactor and continue to create new opportunities in the global market."

Meanwhile, HD Hyundai, along with TerraPower, is also embarking on the development of 'molten salt reactor' technology applicable to the shipbuilding sector, accelerating the development of propulsion ships using SMR.

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