South Korea to invest $1.8 bn in nuclear reactors

Seoul: South Korea will invest 2.5 trillion won ($1.8 billion) in developing next-generation nuclear reactor technologies by 2034, the science ministry said on Tuesday.

The investment aims to foster private companies that can build next-generation nuclear reactors and commercialise the technology, according to the Ministry of Science and ICT.

South Korea plans to secure key technologies for developing small modular nuclear reactors (SMRs) with the aim of entering the global SMR market in the 2030s.