Woori Technology is showing strong performance. News of its participation in the Innovative Small Modular Reactor (i-SMR) technology development project appears to be influencing its stock price. Woori Technology is the only domestic nuclear power MMIS company and holds MMIS supply references for major nuclear power plants in Korea. Based on its exclusive nuclear power technology, it has continuously participated in SMR development projects such as the ‘SMART Nuclear Power Plant’ project and the ‘SMR Alliance.’ As the sole domestic supplier of MMIS, Woori Technology is expected to benefit from exports if the Korean-style SMR development succeeds.
As of 9:45 AM on the 22nd, Woori Technology was trading at 2,110 KRW, up 110 KRW (5.50%) compared to the previous trading day.
Woori Technology announced that it has signed an agreement with the ‘Innovative Small Modular Reactor Technology Development Group’ to develop a ‘Modular Reactor MMIS Safety System Standard Platform.’ SMRs are gaining attention as the most suitable power source for artificial intelligence (AI) data centers.
The i-SMR technology development project, led by the Ministry of Trade, Industry and Energy, aims to develop an i-SMR with competitiveness in terms of economy, safety, and flexibility by 2028, and to obtain standard design approval. Through this national project, Woori Technology plans to newly develop MMIS modules applied to SMRs.
According to the World Nuclear Association, the global SMR market size is expected to grow to 640 trillion KRW by 2035. During the same period, the UK’s Royal Nuclear Institute also forecasts the SMR market to expand to 630 trillion KRW.
With the rapid advancement of AI technology, global big tech companies are actively securing power infrastructure. AI data centers require significantly more power than before. Leading AI companies such as Microsoft and Amazon signed power supply contracts with nuclear power companies last year to operate new data centers.
SMRs are considered an optimal power source for AI data centers. SMRs are modular reactors about 1/100th the size of large nuclear power plants and can be assembled on-site. They can be installed directly at power demand sites, minimizing transmission costs and significantly reducing construction time.
A Woori Technology official said, “As AI spreads and data center power demand surges, countries worldwide are commercializing SMRs in response. As the sole domestic MMIS technology holder, we will develop MMIS standards for next-generation SMRs and contribute to the world’s first SMR commercialization.”
He added, “With increased investment in SMRs, the upcoming 11th Basic Plan for Electricity Supply and Demand (Jeon-gi-bon) is expected to include SMRs for the first time. While sales are projected to increase significantly from this year due to more large nuclear power plant orders, additional performance growth is possible through SMR exports.”
Researcher Inayeon from the Korea IR Association explained, “The United States is also actively promoting policies to expand nuclear power use. The US IRA Act introduced tax credit provisions from 2024 to 2032 for operating and new nuclear power plant investments, aiming for net-zero by 2050.” She continued, “There are plans to increase investment in next-generation nuclear power, SMRs. At last year’s United Nations Framework Convention on Climate Change Conference of the Parties (COP28), 25 countries including Korea and the US pledged to triple global nuclear power capacity by 2050.”
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