Hyundai Engineering holds expert seminar to build momentum in nuclear power, SMR

Hyundai Engineering invited Kang Hyun-kook, a professor at Rensselaer Polytechnic Institute (RPI) in the United States, to lead an in-house seminar on North American nuclear power and small modular reactor regulations, industry trends and opportunities for Korean companies, the company announced Friday.

The seminar offered an in-depth look at the latest trends in the North American nuclear and SMR industries, the regulatory environment, licensing procedures and market outlook.

Rapid growth in the AI sector and the proliferation of data centers have driven a sharp rise in electricity demand, drawing attention to SMRs as a next-generation energy source capable of providing stable, low-carbon power. With major Big Tech companies and data center operators in North America expected to see continued growth in power consumption, companies with nuclear technology — including Hyundai Engineering — anticipate new business opportunities in the sector.

Hyundai Engineering has accumulated roughly 250 nuclear power design projects to date and is pursuing proprietary technology in the SMR space, drawing on that experience and technical expertise. To that end, the company is actively exploring joint technology development and strategic investment partnerships with leading global SMR technology firms.

The company's strategy is to move beyond conventional engineering, procurement and construction work in the SMR sector — which is emerging as a core segment of the future energy market — and establish itself as a high-value player with proprietary technology and project development capabilities.

Meanwhile, Hyundai Engineering is also expanding its research and technology review in nuclear fusion, another next-generation clean energy field drawing growing interest. In June, the company signed an MOU with the Korea Institute of Fusion Energy on developing core technologies for a Korean-model innovative fusion reactor to accelerate the realization of fusion energy.

"This seminar was a meaningful opportunity for our employees to directly understand the rapidly changing regulatory environment and technology trends in the North American nuclear market and gain practical insights needed to shape our future SMR business strategy," a Hyundai Engineering official said. "We will continue to strengthen our technological competitiveness in future energy fields including SMR and nuclear fusion, secure next-generation growth drivers and lead the global market."

Meanwhile, Hyundai Engineering is also targeting the North American critical minerals market, taking part in a lithium and boron plant project in the state of Nevada valued at around 3.02 trillion won ($2.06 billion).