Key facts
- South Korea, the U.S., and Japan signed a memorandum of understanding (MOU) to cooperate on small modular reactor (SMR) deployments.
- The agreement aims to accelerate SMR deployments in the Indo-Pacific region.
- The MOU was signed by the foreign ministers of the three countries.
- The framework seeks to de-risk project development, achieve economies of scale, and catalyze private investment for SMRs.
- The U.S. is committing over $10 million in new funding for technical support to Indo-Pacific countries for nuclear energy deployment.
The foreign ministers of South Korea, the United States, and Japan have signed a memorandum of understanding (MOU) to establish a framework for trilateral cooperation on accelerating small modular reactor (SMR) deployments in other countries within the Indo-Pacific region. The agreement was finalized on the sidelines of the North Atlantic Treaty Organization (NATO) summit in Ankara, Turkey.
The MOU outlines opportunities for the three nations, which possess complementary advantages in the civil nuclear sector, to foster mutually beneficial cooperation among their respective nuclear industries. The framework is designed to encourage fleet deployment models that reduce project development risks, achieve economies of scale, stimulate private investment, streamline licensing processes, and optimize supply chains.
This coordinated trilateral approach is intended to position South Korean, U.S., and Japanese firms to offer competitive alternatives to regional partners seeking to meet growing energy demands while adhering to the highest standards of nuclear safety, security, and nonproliferation. To bolster this initiative, the U.S. is allocating more than $10 million in new funding for a State Department program aimed at providing technical support to Indo-Pacific countries for the deployment of safe, secure, and reliable nuclear energy. These funds will support SMR project development activities and the establishment of a regional SMR training hub for workforce development.
U.S. Secretary of State Marco Rubio expressed optimism about the trilateral cooperation on SMRs, stating that the MOU allows for joint work on what he described as the future of energy generation, emphasizing its safety, efficiency, and cost-effectiveness. South Korean Foreign Minister Cho Hyun noted that the SMR sector is one of many areas where the three countries can collaborate to address shared challenges. Japanese Foreign Minister Toshimitsu Motegi welcomed the MOU as a significant achievement for trilateral cooperation.