United States and South Korea Advance Nuclear Cooperation with New Reactor Projects and Supply Chain Integration

The United States and South Korea are expanding their strategic, long-term cooperation in the global nuclear power market, focusing on new reactor projects and supply chain integration. This initiative combines US technological expertise with South Korean supply chain capabilities. The US Department of Commerce indicated that the two countries plan to construct eight new large reactors, comprising six AP1000 units and two APR1400 units, as part of the US president's goal to have 10 large reactors under construction by 2030. The specific locations for these units have not yet been determined.

The project involves substantial financial commitments, with an estimated USD100 billion allocated for construction costs and an additional USD20 billion for contingency reserves. Both countries have agreed to facilitate a USD10 billion advance payment by the end of the year. This payment is primarily intended for the immediate procurement of long-lead items, adhering to all applicable domestic legal requirements. Individual projects will be announced as sites, schedules, and commercial terms are finalized.

The framework agreement also contemplates a waiver under the 2025 settlement agreement between Westinghouse and Korea Electric Power Corporation (KEPCO) regarding intellectual property. This waiver would permit the construction of up to two APR1400 reactors in the United States. The associated compensation package is expected to recognize the use of Westinghouse intellectual property and technology, providing approximately USD2 billion of value per APR1400 reactor. This value will be realized through a combination of intellectual property licensing, engineering and procurement services, subcontracting opportunities, and the long-term supply of fuel fabrication services. This highlights Westinghouse's strategic role across the planned reactor projects in the US.

KEPCO welcomed the framework agreement, stating it reaffirms the 2025 US-Korean memorandum of understanding on strategic investment. KEPCO plans to contribute to the successful implementation of these projects, drawing on its experience from the domestic power industry and the UAE Barakah nuclear power project. The entry of the Korean-designed APR1400 into the US market is expected to demonstrate the technological and project management capabilities of the South Korean nuclear industry, facilitating the entry of domestic nuclear companies into the US market and expanding their participation in global supply chains.

Additionally, a significant minority equity investment in Westinghouse by South Korean companies is anticipated, with details to be finalized later. Cameco, which holds a 49% ownership stake in Westinghouse, stated that this potential equity participation is not expected to affect its ownership interest. Cameco also noted that the agreement envisions the deployment of new units on federal sites, beginning with two AP1000 units.

University of South Carolina and Westinghouse Partner for AP1000 Workforce Development

The University of South Carolina and Westinghouse Electric Company have signed an agreement to jointly create a workforce development program. This program is designed to support the deployment of Westinghouse AP1000 pressurized water reactors.

The partnership was announced at the Third Annual South Carolina Nuclear Summit. The Palmetto Nuclear Coalition hosted this event in Columbia on September 28 and 29.

NRC Issues First Construction Permit for BWRX-300 SMR in the United States

The Nuclear Regulatory Commission (NRC) has issued the first construction permit for a commercial small modular reactor (SMR) in the United States. The decision, which the NRC completed in 14 months, four months ahead of schedule, paves the way for the nation's first commercial SMR. NRC Chairman Ho Nieh stated that the Clinch River decision demonstrates the NRC's ability to make rigorous safety decisions that advance major American nuclear projects.

The Tennessee Valley Authority (TVA), a government-owned power company, is the first utility in the United States permitted to construct the BWRX-300 SMR. While no construction date has been announced, TVA is negotiating with industry partners to ensure responsible cost sharing and financial accountability during design and construction. Mike Skaggs, TVA Interim President and CEO, emphasized that the permit is foundational for America's nuclear future. Matt Rasmussen, TVA's Chief Nuclear Officer, highlighted the NRC's engagement as essential for supporting America's energy leadership and building the foundation for advanced nuclear.

TVA noted that the Clinch River permit establishes a clear and repeatable licensing pathway for future BWRX-300 SMR applicants, which is expected to improve predictability, lower barriers, and accelerate deployment timelines nationwide. Skaggs added that a priority is to ensure that the people of the Valley do not bear the costs of first-of-a-kind technology that benefits the nation and the world. Strategic partnerships are seen as crucial for shared responsibility, value, and progress in deploying advanced nuclear infrastructure to meet energy security and AI dominance goals.

Eric Gray, CEO of GE Vernova Power Segment, called this a milestone for TVA and GE Vernova Hitachi Nuclear Energy, and an important moment for new nuclear in the United States. He acknowledged TVA's leadership and the collaborative efforts of the NRC and the Department of Energy. Jason Cooper, CEO of GE Vernova Hitachi Nuclear Energy, stressed that fleet deployment is essential for scaling nuclear energy in the United States. He explained that a standard design and a predictable regulatory environment allow for the application of common technology, licensing experience, supply chain capabilities, and lessons learned across projects. Cooper believes Clinch River brings the fleet model closer to reality.

The NRC formally began its review in July 2025, including a safety evaluation completed in June that confirmed TVA's construction permit application met all regulatory requirements. A public hearing was held in Oak Ridge, Tennessee, in August. TVA submitted its application for Clinch River in May 2025, making it the first utility in the USA to apply for a construction permit for GE Vernova Hitachi Nuclear Energy's BWRX-300 technology.

SMRs are characterized by their smaller, modular design compared to the currently operating commercial nuclear fleet in the USA. Their compact size and modularity are expected to offer safety enhancements, quicker construction, easier operation, and better integration into landscapes. TVA already holds an early site permit for SMRs at the Clinch River site, confirming its suitability for a nuclear power plant based on site safety, environmental impact, and emergency planning. TVA has also submitted an Environmental Report for the project to the NRC.

The BWRX-300 design is a 300 MWe water-cooled, natural circulation SMR featuring passive safety systems. It leverages the design and licensing basis of the ESBWR boiling water reactor developed by GEH. The first BWRX-300 unit is currently under construction in Canada, part of a plan for four SMRs at the Darlington New Nuclear Project site. In September 2026, Blue Energy submitted the first part of its construction permit application to the NRC for a BWRX-300 planned for its gas-plus-nuclear project in Texas. Projects for fleet deployment of BWRX-300 units are also advancing in Poland and the UK.