South Korea eyes offshore nuclear reactors amid global race
· UPIMay 3 (Asia Today) -- Global competition to develop offshore small modular reactors (SMRs) is intensifying, with South Korea moving to enter the emerging market for floating nuclear power systems.
According to the nuclear industry, offshore SMRs are designed to be installed on ships or marine platforms, generating electricity that can be transmitted to land or offshore facilities via subsea cables. Compared with large land-based nuclear plants, they offer greater flexibility in siting and can supply power to remote islands or offshore industrial sites.
Russia is currently the global leader in the sector. It launched the world's first floating nuclear power plant, the Akademik Lomonosov, in 2019, supplying electricity to its Far East region. State nuclear firm Rosatom aims to expand exports of related technologies and vessels, leveraging the platform for Arctic shipping routes and resource development.
The United States and China are also accelerating development and concept design efforts as they seek to compete in next-generation energy technologies.
Rising electricity demand driven by the expansion of artificial intelligence is a key factor behind growing interest in offshore SMRs. At the same time, the International Maritime Organization's goal of achieving net-zero emissions in shipping by 2050 has increased attention on nuclear-powered alternatives for large vessels.
Korea pushes ahead with 'Bandi' project
South Korea is stepping up efforts to develop its own offshore SMR model, known as "Bandi."
KEPCO Engineering & Construction is exploring joint development with domestic firms including Hanwha Ocean, aiming to complete standard design work by 2030, with basic design targeted for completion by 2028.
The company plans to leverage its experience in offshore wind design, power grid integration and offshore substation construction, combined with South Korea's shipbuilding capabilities, to gain an advantage in the sector.
Regulatory and cost hurdles remain
Despite its potential, offshore SMR commercialization faces significant challenges.
International regulations and safety standards for marine nuclear reactors are not yet clearly established, and offshore installations require different safety verification systems from land-based plants. Questions also remain about economic feasibility, including construction, operation and transmission infrastructure costs.
Still, industry officials see strong long-term potential, particularly as offshore SMRs could address land constraints and support distributed energy demand.
"Offshore SMRs are smaller, more economical, safer and easier to maintain," said Kim Tae-kyun, president of KEPCO Engineering & Construction. "Bandi is currently in the conceptual and basic design stage, and it has potential not only as a ship power source but also as a way to address public acceptance issues surrounding nuclear energy."
-- Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260503010000240