August 25, 2025
HD Hyundai Executive Vice Chairman Chung Kisun met with TerraPower Chairman and founder Bill Gates in Seoul on 22 August to discuss expanding nuclear supply chain cooperation, marking the first reunion since their initial talks in the U.S. last March.
The companies had previously signed a memorandum of understanding (MOU) aimed at growing the global manufacturing supply chain for TerraPower’s Natrium reactors. The Natrium reactor is a Generation IV small modular reactor (SMR). It uses sodium-cooled fast reactor technology and has built-in energy storage. It also reportedly produces about 40% less nuclear waste than conventional reactors.
HD Hyundai is contracted to supply the reactor vessels for the first Natrium reactor. The MOU provides a framework for broader supply chain expansion.
Chung emphasized the strategic importance of SMR technology for sustainable energy, calling the partnership a “turning point in building a global nuclear supply chain.”
Meanwhile, TerraPower CEO Chris Levesque highlighted HD Hyundai’s expertise in shipbuilding and manufacturing as a critical factor in advancing the Natrium program.
HD Hyundai is also exploring nuclear-powered vessels, including potential applications of molten salt reactor (MSR) technology, signaling a growing intersection between advanced nuclear technology and the shipping industry.
Furthermore, last year, HD Hyundai Shipbuilding & Offshore Engineering (KSOE) disclosed the establishment of the Nuclear Energy Maritime Organization (NEMO) in collaboration with prominent international nuclear energy entities.
