On 9 February, the four South Korean shipping companies signed an agreement with Gyeongju City’s municipal authorities, Korea Research Institute of Ships & Ocean Engineering, Korea Atomic Energy Research Institute and the Korean Register of Shipping to create small nuclear reactors, including molten salt reactors, for ships.
The Memorandum of Understanding (MoU) aims to foster mutual cooperation for nuclear-powered ship and offshore system technology development, enabling a new leap forward in the national shipping and energy industries.
Under this agreement, the parties will develop and demonstrate small module reactors for nuclear energy in the marine industry, suitable interfaces, small module reactor propulsion ship/marine system technology.
Small module reactors are rapidly emerging as an alternative energy source for ships to replace diesel engines.
Molten salt reactors are evaluated as optimal for marine vessels as there is little concern about radioactive leakage as the material solidifies naturally when exposed externally. These reactors mix nuclear material with molten salt that melts at a high temperature.
The European Union and the United States have already announced various mid- to long-term plans for the development and distribution of eco-friendly ship technology using nuclear power. The South Korean government also announced 12 next-generation nuclear technologies for shipping and aeronautics utilisation at the National Science & Technology Information Service’s last meeting. This movement was accelerated last year as the International Maritime Organization wants shipping to halve greenhouse gas emissions to achieve carbon neutrality by 2050.
