South Korea eyes nuclear-powered SMR ships

April 29 (Asia Today) -- The South Korean government and domestic shipbuilders have identified small modular reactor-powered ships as a key response to carbon neutrality goals and intensifying competition in the global shipbuilding market.

The Ministry of Science and ICT said Wednesday that Deputy Prime Minister and Science Minister Bae Kyung-hoon visited the Korea Atomic Energy Research Institute in Daejeon and met with local shipbuilders, including HD Korea Shipbuilding & Offshore Engineering and Hanwha Ocean, to discuss public-private cooperation to accelerate SMR ship development.

Ships powered by small reactors of 300 megawatts or less, instead of fuels such as liquefied natural gas, are seen as less vulnerable to carbon emissions than conventional vessels. Because they do not require separate fuel tanks or exhaust pipes, they can secure more cargo space. Their power sources can also be replaced every 10 to 20 years, improving transport and operating efficiency.

The International Maritime Organization's plan to achieve carbon neutrality by 2050 has made the development and adoption of SMR ships increasingly necessary, rather than optional.

China, Japan and Europe have already moved to secure technologies for SMR ships. South Korea plans to invest across the public and private sectors to obtain the technology. According to global market research firm Precedence Research, the SMR market is forecast to grow from about 10.4 trillion won ($7.05 billion) last year to more than 22 trillion won ($14.9 billion) by 2034.

The ministry selected the development of molten salt reactor-based SMR ships as one of the 12 tasks under the K-Moonshot Project, which combines artificial intelligence and science technology to solve core national missions. The ministry said molten salt reactors meet the requirements for marine use because of their compact size, safety and long-term continuous operation.

Through the K-Moonshot Project, the government aims to complete a basic design for marine molten salt reactors by 2029 and begin comprehensive design of SMR ships in 2032. It plans to start building SMR ships in 2035 and enter the commercialization stage in the 2040s.

"A phased transition to eco-friendly ships is needed by 2050," Bae said. "The government is pursuing expanded SMR investment centered on K-Moonshot. To speed development, we will actively address the issue of shortening licensing and approval periods for related technologies, along with building virtual nuclear power plants through AI."

Participants at the meeting also called for shortening development timelines by using AI-based virtual reactor platforms to verify safety in advance. They also requested support for training specialized workers and international cooperation to discuss global standards.

The ministry said it will quickly form a joint public-private SMR ship task force and use it as an active channel for cooperation.

-- Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260429010009527

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This story was originally published April 29, 2026 at 8:10 PM.