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2mo ago

South Korea, U.S. and Japan Sign Memorandum to Jointly Pursue Small Modular Reactor Exports

The deal seeks to offer Indo-Pacific countries an alternative to Chinese and Russian nuclear suppliers by combining Seoul's construction, U.S. reactor design and Japanese manufacturing to shape SMR standards.

South Korean Foreign Minister Cho Hyun (R), U.S. Secretary of State Marco Rubio (C) and Japanese Foreign Minister Toshimitsu Motegi pose with a memorandum of understanding on small modular reactors during a trilateral meeting on the sidelines of the North Atlantic Treaty Organization leaders' summit, in Ankara, Turkey, on July 7, 2026, in this photo released by the Associated Press. (Pool photo) (Yonhap)
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Overview

  • The three governments signed a government-level memorandum of cooperation on small modular reactors that was agreed on July 7 to support joint market entry in the Indo-Pacific and to coordinate industry teams from each country.
  • Officials say the partnership matches complementary national strengths: South Korea's plant construction and delivery record, U.S. reactor designs and intellectual property, and Japan's equipment manufacturing and engineering.
  • Seoul and other officials framed the initiative primarily as a strategic move to offer regional buyers a non-Chinese, non-Russian alternative and to position the trio to influence emerging international rules for SMRs.
  • Key follow-up issues remain unresolved, including talks over expanded civilian fuel-cycle arrangements and access to high-assay low-enriched uranium, and the next round of related security consultations has not been scheduled.
  • Industry context and demand drivers make the timing significant because SMRs are pitched as faster, lower‑cost carbon-free plants to meet rising power needs from data centers and electrification and the World Nuclear Association projects large SMR growth through 2040–2050.