During the NATO summit, the United States, Japan, and South Korea signed a memorandum of understanding to establish a cooperation mechanism for the export of small modular reactors (SMRs) to enter the nuclear power plant markets of third countries, such as the Indo-Pacific region. With the widespread adoption of artificial intelligence (AI), electricity demand in various countries is increasing dramatically, prompting South Korea, the US, and Japan to launch an export alliance system for next-generation nuclear power technology, SMRs. The US announced that GE Vernova, Hitachi, Samsung C&T, and SGE have reached an agreement on an industry initiative aimed at promoting the deployment of the BWRX-300 small modular reactor in Europe. Vietnam, Singapore, the United Kingdom, and the Czech Republic have publicly expressed their interest in introducing SMRs. The SMR market is projected to reach $7.5 billion in 2025 and is expected to reach $300 billion by 2040.
