"Small modular reactors (SMRs) have a large potential market. Based on a 300 MW class, it is estimated that more than 500 units are needed worldwide. They are so popular that there is demand to close aging thermal power plants and use the sites for SMRs, as in Maryland in the United States."
Han Do-hee, Director General for SMRs at the International Atomic Energy Agency (IAEA), delivered a special lecture on the theme of "Global SMR outlook" at the 2025 Gyeongnam SMR International Conference held at the Changwon Convention Center on the 28th. Han worked at the Korea Atomic Energy Research Institute (KAERI) for 25 years before moving to the IAEA in 2015. The IAEA is an independent international organization under the United Nations (UN) that helps ensure nuclear energy is used peacefully and prevents its diversion for military purposes such as nuclear weapons.
Director General Han said, "SMRs may have higher upfront investment costs than existing large-scale nuclear plants, but they are working to lower the levelized cost of electricity through modularization, shorter construction periods, and repeat builds. Compared with existing nuclear plants, operation and dispatch are more flexible, making them economical. If demand grows, more can be built on adjacent sites."
An SMR refers to a small, modular reactor designed for power generation. By assembling factory-built modules on site, construction time can be shortened, and with a generating capacity of 300 MW or less, it is suitable for areas with smaller power demand.
The IAEA has identified 69 SMR designs to date, but believes the number of SMR designs under development in countries around the world is far higher. Russia is developing and operating a floating reactor that places an SMR on a barge (a flat-bottomed vessel), while China is developing and operating a high-temperature gas-cooled SMR that uses helium gas as the coolant.
Director General Han said, "Canada, Uzbekistan and Argentina are also building SMRs, so by 2030 we expect about 20 SMRs to be in operation. Securing economics through repeat builds is the most important." Han added, "IAEA member states are showing strong interest in SMR-related projects. However, from the initial design stage, safety demonstration and nonproliferation assurances are essential. The IAEA provides services to check safeguards for safety measures."