HD Hyundai Chairman Chung Ki-sun met in succession with heads of global corporations at the World Economic Forum (WEF, Davos Forum) in Davos, Switzerland, to discuss ways to expand cooperation.
On the 22nd (local time), Chung met Bill Gates, founder and chairman of TerraPower, again for the first time in about five months. The two are said to have met separately on the sidelines of the Davos Forum to exchange views on the future and outlook of the energy industry.
Before that, Chung and Gates discussed the expansion of the SMR (small modular reactor) supply chain and the progress of commercialization in March and August last year in the United States and Korea, respectively.
HD Hyundai and TerraPower are strengthening cooperation in the SMR sector, which has emerged as a key agenda item in the recent energy transition. To that end, HD Hyundai invested $30 million in TerraPower in 2022 and is jointly participating in SMR technology development.
HD Hyundai Heavy Industries supplied the cylindrical reactor vessel to be installed in TerraPower's sodium-cooled reactor and signed a supply chain agreement with TerraPower in March last year for the commercialization of the sodium-cooled reactor.
The sodium-cooled reactor is a Generation IV sodium-cooled fast reactor developed by TerraPower that produces electricity by cooling the heat generated by fission with fast neutrons using liquid sodium. Among SMRs, it has high safety and technological maturity, and features about 40% less nuclear waste volume compared with existing reactors.
On the 20th, the second day of the forum, Chung also met Alex Karp, founder and CEO of the global artificial intelligence (AI) corporation Palantir, and agreed to expand the strategic partnership between the two companies.
Starting with HD Hyundai Oilbank in 2021, HD Hyundai has introduced Palantir's big data solutions and its artificial intelligence platform (AIP) into core businesses including shipbuilding and offshore, energy, and construction equipment, building a data-driven decision-making system.
HD Hyundai plans to jointly establish a Center of Excellence (CoE) with Palantir to systematically internalize employees' advanced data analytics and AI utilization capabilities and secure sustainable growth engines that drive AI-based innovation.
Since 2023, Chung has attended key sessions of the Davos Forum each year, continuing discussions on strategies and directions for future industries such as AI and energy. In particular, at this year's forum—the first since taking office as chairman—he focused on assessing the global industrial environment and potential for cooperation.