Multilateral Cooperation
The Ministry of SMEs and Startups announced on April 4 that it would invest 675 billion won (US$515 million) for the next five years so that the number of globally competitive small companies can reach 150 in the nuclear power industry.
“The budget investment until 2027 includes 150 billion won [US$114 million] for R&D support along with 25 billion won [US$19 million] in private funds and 500 billion won [US$381] in financial support,” it explained, adding, “The number of such companies in the industry was 69 at the end of 2020 and we are aiming to increase it to 150 or more.”
The project is scheduled to cover 40 items to accelerate R&D and digital transformation of the industry. The ministry is planning to select and launch 10 subprojects for digital nuclear power plant development. The subprojects will be based on multilateral collaboration for co-development and both public and private investments.