Gyeongnam Province invests 33 billion won in SMR companies

Gyeongnam Province is accelerating its support for local manufacturing companies to enter the Small Modular Reactor (SMR) market. Through the Nuclear Industry Growth Fund, established last December with a total scale of 58.6 billion won, the province has invested 33 billion won into five local SMR-related companies within just 10 months. This investment represents 11 times the province's initial 3 billion won contribution.

The recipient companies and their specific focus areas include: • Bumhan Mecatec: 10 billion won for pressure vessels and heat exchangers. • Korea Precision Industry: 10 billion won for domesticating electron beam welding system equipment. • RS: 5 billion won for precision casting core components. • Sanglim MSP: 5 billion won for robot welding automation. • GATech: 3 billion won for metal powder materials and 3D printing precision parts.

Governor Park Wan-soo visited Bumhan Mecatec to discuss growth strategies and address technical and market challenges faced by these firms. The province aims to expand the number of companies meeting international standards, such as ASME certification, from 70 to 100 by 2035, positioning Gyeongnam as a global hub for SMR supply.