[Featured Stock] Woojin, Bill Gates Also Eyes SMR... Doosan Heavy Industries Soars as Essential for Green Hydrogen Industry

Participation in Government Projects Related to Small Reactor Development
Continuous Development of Instruments for Small Reactors

[Asia Economy Reporter Hyungsoo Park] Expectations for Small Modular Reactors (SMR) are growing, leading to a surge in related stocks.

At 12:01 AM on the 2nd, Woojin is trading at 6,040 KRW, up 5.96% from the previous day.

Doosan Heavy Industries & Construction is up more than 18%, and Korea Electric Power Technology (KEPCO KPS) and Korea Electric Power Corporation Technology (KEPCO Tech) are also showing strength.

At the Korea-US summit, both countries agreed to jointly enter the overseas nuclear power plant market, increasing interest in Small Modular Reactors (SMR). SMR is a next-generation nuclear reactor being promoted as a new business by Korea Hydro & Nuclear Power (KHNP) and Doosan Heavy Industries & Construction.

SMR is also one of the essential elements for establishing green hydrogen production capabilities. With its eco-friendliness and safety, SMR is called a game changer in the hydrogen economy era. Major countries such as the United States and China are investing heavily in hydrogen technology development from an energy security perspective. Leading companies worldwide have also entered the hydrogen race.

SMR has low investment risk due to affordable construction costs and aligns with the global trend of carbon neutrality. It is rapidly emerging as a global trend in the nuclear power sector, with the Biden administration’s energy policy and Bill Gates’ TerraPower developing the SMR-based ‘Natrium’ reactor.

Woojin participated in government projects by the Ministry of Trade, Industry and Energy (2013?2018) related to next-generation and small reactor development, developing in-core nuclear instrumentation (ICI) and In-Vessel Control Element Drive Mechanism (In-Vessel CEDM). Going forward, it plans to develop instrumentation for small reactors in collaboration with Korea Atomic Energy Research Institute and Korea Electric Power Technology.

The research project Woojin will focus on is ‘Localization of High-Performance In-Core Nuclear Instrumentation Signal Measurement System and Development of Instantaneous Response Measurement Technology.’ This project is part of the Ministry of Trade, Industry and Energy’s energy technology development program and began in May last year. It aims to develop core protection system technology using instantaneous response in-core nuclear instrumentation without signal delay. A total of seven institutions, including Woojin, Users (lead organization), and KHNP Central Research Institute, are participating in this large-scale project. Based on its proprietary technology, Woojin is responsible for developing the instantaneous response in-core nuclear instrumentation.

Woojin explained that the in-core nuclear instrumentation currently used in operating reactors cannot be applied to core protection systems due to the physical properties of rhodium and is only used for core monitoring systems. The instantaneous response cobalt (Co) detector has almost no response time, allowing real-time monitoring of all neutron flux conditions around the instrumentation, making it applicable to core protection systems.

Woojin is also conducting research on functional verification of control rod drive mechanism elements. The embedded multi-channel control rod position indicator is planned to be applied to the innovative small modular reactor SMART, and once the element technology development is completed, it can be applied to various small reactors.