South Korea, US, Japan sign SMR cooperation pact on sidelines of NATO summit

The foreign ministers of South Korea, the United States and Japan met Tuesday (local time) on the sidelines of the NATO summit in Ankara, Turkey, reaffirming that economic security cooperation is a key pillar of their trilateral partnership and signing a memorandum of cooperation (MOC) on small modular reactor deployment.

The agreement establishes a cooperative framework that lets the three countries leverage their complementary strengths in the nuclear power industry — technology, construction and key components, respectively — to compete for projects in third-party markets. The move reflects an effort to secure a competitive edge in overseas expansion as trilateral economic cooperation, including investment in the United States, continues to deepen.

Foreign Minister Cho Hyun met with US Secretary of State Marco Rubio and Japanese Foreign Minister Toshimitsu Motegi to discuss the Korean Peninsula, security cooperation, global affairs and economic security cooperation.

"As we face a range of global challenges, the importance of cooperation among trusted partners is growing ever greater," Cho said. "Let us further strengthen trilateral cooperation for our shared security and prosperity."

Rubio and Motegi echoed the sentiment, saying the three sides should "continue to expand the scope of practical trilateral cooperation for the peace and prosperity of our peoples and the region."

The centerpiece of the meeting was the signing of a trilateral SMR cooperation memorandum. The pact covers support for multiple SMR construction projects through standardized reactor designs and streamlined contracting procedures, the formation of consortiums among companies from the three countries, project financing and capacity building, and the supply of technology, fuel, equipment and services.

The framework is designed to accelerate SMR deployment, with countries in the Indo-Pacific region as the primary targets.

South Korea's Ministry of Foreign Affairs said the agreement "will provide a foundation for advancing mutual interests in the security of all three nations while meeting the energy security needs of partner countries."

It added that the pact "will enable companies from South Korea, the United States and Japan to offer more competitive options to meet the growing energy demands of partner countries in the region," and that it "will support adherence to the highest standards of nuclear safety, nuclear security and non-proliferation as new reactor technologies become increasingly commercialized."

The three ministers also shared assessments of the situation on the Korean Peninsula and agreed to maintain close coordination on North Korea policy, including responses to the North's illicit cyber activities. They particularly agreed to continue efforts to preserve peace and stability on the Korean Peninsula through dialogue and diplomacy, while upholding the principle of denuclearization.