Mun Mi-ock, being the first vice minister of Korea signed a memorandum. Saudia Arabia’s King also signed that memorandum. This happened at a conference in Vienna which was called the International Atomic Energy Agency. The memorandum signed by both sides will prove to be worthy in the future.
The reactor will be refined by the efforts made by both countries. A prototype is also expected to be built and the design will be used for promotion in the Southeast Asian and Middle Eastern countries.
A joint research centre has been planned to be built for this purpose. Both the sides will make the nuclear energy research centre and this project will be completed when the year’s coming to an end.
The vice minister said that they were looking for a partnership between the two countries to be strengthened and even stronger to be recognized in the global market.
System-integrated Modular Advanced Reactor Technology (SMART) is a brand of SMR technology of South Korea. It has been in the development process for the past 22 years and it has been under process all this time.
This technology is very progressed and advanced and 100MW energy can be produced by the pressurized water design. If a city has 100,000 people residing in it, this energy will be more than enough to supply the whole city with 40,000 tonnes of water and 90 MW of electricity. It can work efficiently for at least 60 years without any dysfunctioning.
The design of this technology had been developed and presented years ago but there were no orders. The Korean regulators had finished the development of the design by 2012. And they were expecting to build it in 2017.
The two countries have been looking forward to working together for this project for the past 4 years. And now they have agreed and given orders for the work to be started and they will be able to promote the new technology in the global market due to the collaboration between the two countries. A great amount of money has been invested since the construction has been planned to be started.