South Korea's HanmiGlobal plans U.S. unit for SMR projects
· UPIJune 24 (Asia Today) -- South Korean construction project management firm HanmiGlobal is moving to enter the U.S. small modular reactor market by establishing a local project development company and presenting its strategy to prospective customers and partners.
HanmiGlobal said Wednesday it held a seminar Monday in Washington, D.C., with the Global America Business Institute, an international energy and climate policy organization.
Representatives from prospective customers and industry groups attended, including data center operator EdgeCore, utility Dominion Energy and the Edison Electric Institute. Nuclear industry officials and policymakers also participated.
SMR developers TerraPower and ARC Clean Technology, along with nuclear technology company CORE POWER, joined South Korean nuclear supply chain companies Doosan Enerbility, POSCO International and KEPCO Engineering & Construction to discuss potential cooperation.
HanmiGlobal presented its plan to establish a U.S. SMR project development company and outlined its project management capabilities.
The company intends to create an integrated development model covering the entire project process, including initial planning, licensing, design, procurement, construction and connection to the power grid.
Demand for reliable carbon-free electricity is growing in the United States as the number of artificial intelligence data centers increases, raising expectations for growth in the SMR market.
Such projects, however, require complex licensing procedures, supply chain development, cost management and coordination among project owners, technology providers and other stakeholders, increasing the importance of specialized project management.
HanmiGlobal plans to use the new company as a base to help South Korean nuclear design, equipment and construction companies enter the U.S. market.
The entity would identify business opportunities, support project execution and connect South Korean suppliers with prospective U.S. customers.
HanmiGlobal has also expanded cooperation with international nuclear industry partners.
In January, the company signed a strategic alliance with KEPCO Engineering & Construction and British project management firm Turner & Townsend to pursue global nuclear power projects.
It reached a separate agreement with AtkinsRéalis in May to jointly pursue nuclear power and industrial plant projects in the United States.
HanmiGlobal secured a project management contract last year for the life extension of Unit 1 at Romania's Cernavoda nuclear power plant. This year, it is providing project management technical support for the construction of Shin Hanul nuclear reactors 3 and 4 in South Korea.
The company also cited its experience in the U.S. market as a competitive advantage.
HanmiGlobal acquired Portland, Ore.-based engineering and project management company OTAK in 2011. It has since worked on U.S. manufacturing projects involving semiconductors, rechargeable batteries and submarine cables.
"The U.S. SMR market has significant growth potential as AI data centers expand and electricity demand rises," a HanmiGlobal official said.
"We are pursuing the establishment of a local project development company based on the technical capabilities of South Korea's nuclear industry and our experience in the U.S. market."
-- Reported by Asia Today; translated by UPI
© Asia Today. Unauthorized reproduction or redistribution prohibited.
Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260624010008318