SeAH Besteel announced on the 15th that it signed a memorandum of understanding (MOU) with BWXT Canada, a global leader in nuclear technology, to explore expanded cooperation in the field of nuclear power plant manufacturing.
The MOU was initiated to strengthen the manufacturing capabilities and technological synergy between the two companies in response to the growing demand for components in the global nuclear power market, driven by new construction projects including large-scale reactors and small modular reactors (SMRs), as well as nuclear plant life extensions. The two companies agreed to explore potential cooperation options in key strategic areas, including the supply of forged products for nuclear equipment and related high-value-added components.
BWXT Canada is a company that manufactures commercial nuclear power plant equipment and provides engineering services worldwide, including in North America, an advanced nuclear market, based on more than 70 years of expertise. It has supplied over 325 steam generators and major reactor components to nuclear power plants around the world, playing a key role not only in global reactor life extensions but also in next-generation SMRs, large-scale reactors, and advanced reactor fields.
SeAH is expanding its business in nuclear equipment based on the technological expertise and delivery track record it has built in the manufacturing of spent fuel transport and storage casks (CASKs). It has obtained certifications from the American Society of Mechanical Engineers (ASME) and the Korea Electric Power Corporation's KEPIC (Korea Electric Power Industry Technology Standards), and established a quality management system that meets the quality assurance standards of the U.S. Nuclear Regulatory Commission (US NRC).
In January last year, SeAH became the first domestic company to supply eight spent fuel transport and storage casks to the North American market. In November of the same year, it successfully completed the delivery of four spent fuel transport casks (KN-18) ordered from Korea Hydro & Nuclear Power. SeAH plans to expand its business portfolio beyond the existing production of spent fuel transport and storage casks to include the manufacturing of key components for the SMR and large-scale reactor markets, leveraging this cooperation with BWXT Canada as an opportunity.
A representative of SeAH stated, "This will be a significant milestone in strengthening our growth drivers in the global nuclear power plant manufacturing market, based on the trust we have built with BWXT Canada, a global leader in the nuclear industry." The representative added, "In line with the expanding nuclear energy market, we will continue to strengthen our global position as a 'total nuclear solution provider,' ranging from special steel materials to large-scale reactor components."
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