On July 7, South Korea, the U.S., and Japan signed a Memorandum of Cooperation (MOC) to accelerate the introduction of small modular reactors (SMRs) in the Indo-Pacific region.
The U.S. State Department announced that Secretary of State Marco Rubio, Japanese Foreign Minister Toshimitsu Motegi, and South Korean Foreign Minister Cho Hyun met during the North Atlantic Treaty Organization (NATO) summit in Ankara, Turkey, to sign this trilateral cooperation agreement.
The State Department explained that this MOC enhances mutual security interests and lays the groundwork for partner countries to meet their energy security needs. It also presents opportunities for the three nations to foster mutually beneficial cooperation in the civilian nuclear sector.
The initiative aims to promote a fleet deployment model that reduces project development risks, achieves economies of scale, expands private investment, streamlines regulatory processes, and optimizes supply chains.
The coordinated approach among the three countries will enable U.S., Japanese, and South Korean companies to offer more competitive alternatives to meet the growing energy demands of regional nations. It will also help maintain the highest standards of nuclear safety, security, and non-proliferation as new reactor technologies emerge.
As a follow-up to this collaboration, the U.S. plans to allocate over 10 million USD to the State Department’s Foundational Infrastructure for Responsible SMR Technology Use (FIRST) program.
This funding will support technical assistance for the safe and reliable adoption of nuclear energy in Indo-Pacific countries, the development of SMR projects, and the establishment of regional training hubs for workforce development.
The State Department also reported that GE Vernova, Hitachi, Samsung C&T, and SGE agreed to collaborate on expanding the deployment of the BWRX-300 SMR in Europe.
The Department explained that this initiative supports the goals set out in the signed cooperation agreement and further strengthens collaboration between government and industry to enhance global energy security.
During the signing ceremony, Secretary Rubio emphasized that energy security is one of the most critical issues in today’s world, noting that events in the Strait of Hormuz and elsewhere underscore this reality.
He stated that the cooperation agreement we signed today will allow them to jointly pursue projects related to small modular reactors. This will be the future of energy production in many ways, strengthening the economy in a very safe, efficient, and cost-effective manner.
Rubio added that this trilateral cooperation must demonstrate tangible results, calling today’s agreement a significant concrete achievement.
Regarding recent Japan-South Korea relations, Rubio remarked that they have faced several tests recently and in the past, but he believes they have grown stronger over the last three to four years. The U.S. has also worked to further develop that relationship. South Korea and Japan are very close and important allies of the U.S.
Minister Motegi welcomed the signing of the MOC as an important achievement, highlighting the concrete efforts made since last October to strengthen the resilience of critical mineral supply chains and respond to North Korean cyber threats.
Minister Cho expressed confidence that this cooperation agreement represents one of many areas where they can collectively address global challenges. He also thanked Secretary Rubio for his role in promoting peace in the Middle East and other regions, noting that this has greatly benefited them as well.