South Korean President Lee Jae Myung and US President Donald Trump engaged in “meaningful” talks on Korea-US nuclear energy cooperation during their summit in Washington, according to Lee’s National Security Adviser Wi Sung-lac.
During the Korea-US Business Roundtable at the Willard Intercontinental Hotel, South Korean companies announced $150 billion in US-focused investments. Of the 11 memoranda of understanding signed at the event, four directly addressed nuclear power initiatives.
Korea Hydro & Nuclear Power (KHNP) and Doosan Enerbility, collaborating as a “one team,” formalized an agreement with Amazon Web Services (AWS) and X-energy. In a separate accord, Doosan Enerbility partnered with Fermi America on projects in both nuclear and small modular reactors (SMRs). KHNP and Samsung C&T Corp also agreed to participate in Fermi America’s AI Campus Project in Texas. Additionally, KHNP entered into a memorandum with Centrus Energy and POSCO International to support expansion of Centrus’s uranium enrichment facility in Piketon, Ohio.
KHNP and Doosan Enerbility’s cooperation with AWS and X-energy extends across the full life cycle of SMRs, covering design, construction, operations, supply chains, investment, and global market development. AWS has pledged $700 million to commercialize 5 GWe of SMR capacity by 2039 to power its planned AI data centers. Doosan Enerbility, which invested in X-energy in 2023, remains the primary supplier of essential reactor components.
“This partnership brings together proven nuclear leadership and experience from Korean industry and X-energy’s advanced reactor and fuel technology to meet a historic energy challenge,” said X-energy CEO J Clay Sell. He emphasized that combining expertise positions both sides to accelerate the Xe-100 SMR into the marketplace by drawing on South Korea’s industrial supply chain.
KHNP President and CEO Dr Joo-ho Whang underlined the increasing global competition in SMR development. “By strengthening cooperation with the US, I expect that the technological and business capabilities of both countries will generate strong synergies in the global SMR market,” he said.
Doosan Enerbility also entered into an agreement with US energy developer Fermi America for comprehensive collaboration on both large-scale reactors and SMRs for its AI Campus Project in Texas. The initiative includes an 11 GWe private grid and what is planned as the world’s largest AI data center, powered by multiple energy sources such as large reactors, SMRs, gas-fired plants, solar, and large-scale energy storage.
“With the support and interest of both governments, this agreement will accelerate SMR commercialization,” said Park Gee-won, chairman of Doosan Enerbility.
KHNP and Samsung C&T Corp further committed to the project’s construction, reinforcing the role of Korean firms in the US energy infrastructure. A “Business agreement for cooperation in the construction of a high-tech energy complex centre” was signed between KHNP, Samsung C&T, and Fermi America during the roundtable.
Another memorandum was finalized between KHNP, US Centrus, and POSCO International to explore additional investment opportunities tied to expanding uranium enrichment capacity in Piketon, Ohio. The agreement also increased commitments for enriched uranium supply under a February contract.
Centrus President & CEO Amir Vexler commented: “This agreement reflects strong demand for a US-owned uranium enrichment capability and another potential avenue for private investment capital to bring added supply diversity and competition to the marketplace – and to meet Korea’s need for affordable, reliable fuel supplies for both new and existing reactors.”
The February accord supports development of new enrichment capacity at the American Centrifuge Plant in Ohio. Both parties will also explore further cooperation on Low-Enriched Uranium and High-Assay, Low-Enriched Uranium (LEU) for next-generation reactors.
Following the summit and the business roundtable, South Korean Second Vice Foreign Minister Kim Ji-na met with US Deputy Secretary of Energy James Danly in Busan on the sidelines of an Asia-Pacific Economic Cooperation ministerial session. Both sides highlighted the “meaningful” discussions on Korea-US nuclear energy cooperation and reaffirmed their commitment to strengthening the partnership in this field.
“Vice Minister Kim proposed the two countries work to deepen nuclear energy cooperation in a way that will contribute to strengthening the bilateral alliance, with Deputy Secretary Danly reaffirming commitment to enhancing such cooperation.” The two parties also recognized the momentum of SMR-related business partnerships and pledged to support further private-sector progress.