Officials from leading overseas small modular reactor (SMR) corporations gathered in one place and agreed that help from governments is urgently needed for the SMR industry to advance further. Most SMRs under development are in the design phase and cannot pick up speed because of various regulations and permitting procedures.
At the 2025 Gyeongnam SMR International Conference held at the Changwon Convention Center on the 28th, executives from seven overseas SMR corporations gathered to present each company's business strategy and discuss the SMR industry under the theme "Strategies and visions of global SMR corporations."
From the United States, NuScale Power, TerraPower, and Nano Nuclear Energy attended, and Denmark's SaltX, Singapore's Thorcon, Japan's Hitachi GE Vernova, and Canada's ARC also took part. The panel discussion was moderated by Jung Beom-jin, a professor in the Department of Nuclear Engineering at Kyunghee University.
Carl Fisher, NuScale Power chief operating officer (COO), said, "The most important thing for SMR development is ensuring safety, and we also need to consider that the climate crisis is unfolding rapidly. Demand for SMRs is surging, and we need to open the way for technological advances so we can respond."
NuScale Power's SMR was the first to receive standard design certification from the U.S. Nuclear Regulatory Commission (NRC). This means it is the only SMR design that can be used commercially in the United States. The company is delivering results with projects such as building an SMR complex in Romania and signing a contract to deploy an SMR within the Tennessee Valley Authority (TVA).
Toru Ito, Director General at Hitachi GE Vernova, said the company plans to build a production plant in the United States in light of the U.S. government's subsidies policy. Hitachi GE Vernova is developing the next-generation SMR BWRX-300. Although it has no experience building nuclear power plants in the United States, it is preparing to enter the U.S. market based on experience accumulated in Japan.
Director General Ito said, "We plan to enter the North American market in the long term, including Canada and the United States, but these countries are strongly demanding localization of SMR components and construction to protect domestic industries and create jobs. Considering subsidies and other institutional sectors, we believe it is advantageous to establish a local supply chain."
Mohamed Shams, TerraPower institutional sector head, said, "There has been significant progress recently regarding permits for construction of our flagship sodium-cooled reactor. Last week, we received a response from the NRC that there are 'no major issues' in the environmental impact assessment. After additional NRC review in Dec., we expect to receive an answer to our construction permit application in the first quarter of next year."
TerraPower is also preparing to build SMRs outside the United States. Shams said, "Following Utah, we held site-related meetings with the U.K. government. As we are collaborating extensively with Korean corporations such as Doosan, SK, and HD Hyundai, we expect to see results in more areas in Korea as well."
Peder Noborg, SaltX COO, said the company is preparing to obtain permits related to SMR construction in Korea. Noborg said, "We plan to work with one of Korea's shipyards to manufacture SMR components on the spot and ship them by sea to clients. We are working to secure approval from Korean regulators."
James M. Wolf, ARC vice president, explained a case of support from the U.S. government related to the ARC-100 sodium-cooled fast reactor (SFR). Wolf said, "The developer needs high-assay low-enriched uranium, but the supply chain was uncertain. With support through the advanced reactor development program, we were able to secure stable feedstock supply for 12 months."
Florent Heidet, Nano Nuclear Energy chief technical officer (CTO), said, "We expect NRC approval related to SMR permitting within six months. By the end of next year, we anticipate work related to the site where the reactor will be deployed."