The nuclear power industry welcomed the passage in a plenary session of the National Assembly of the Special Act on the Promotion and Support of Small Modular Reactor Development (SMR Special Act), which includes measures to support the development and commercialization of small modular reactors (SMRs).
Korea Atomic Industrial Forum (KAIF), which counts 534 nuclear power companies as members, said on the 13th, "We extend our deep gratitude to the government and the National Assembly, all stakeholders who have devoted much support and effort, and the public who offered unreserved encouragement until this result was achieved," adding, "It is highly encouraging that, within a legal framework centered on large nuclear power plants, a new legal and institutional foundation has been established for the development of the SMR industry, which the nuclear sector has continually called for."
Korea Atomic Industrial Forum (KAIF) continued, "We are now able to lay the groundwork for the development of the SMR industry as a carbon-free energy source suitable for achieving carbon neutrality and effectively responding to surging electricity demand driven by the expansion of artificial intelligence (AI) and data centers," and said, "Through this, once SMR development is completed and construction gets underway in earnest, we are confident that the Republic of Korea can lead the global SMR market."
The SMR Special Act integrates three SMR-related bills introduced in the National Assembly into a single bill and passed the parliamentary threshold after drifting for two years. The SMR Special Act requires the Minister of the Ministry of Science and ICT to establish a "basic plan for SMR system development" every five years and to carry out an implementation plan annually. It includes strategies for SMR research and development, financing, and ecosystem building, and establishes an SMR Development Promotion Committee within the Nuclear Energy Promotion Commission to deliberate and decide on SMR-related matters.
Korea Atomic Industrial Forum (KAIF) said, "This is just the beginning. To ensure the significance of the legislation is not diluted, necessary measures such as subordinate statutes and regulations must be pursued swiftly," adding, "We will expedite technology development, boldly expand the cultivation of professionals and fiscal投入, and firmly establish the foundation for the development of the SMR industry."