SMR Business Model for Global EPC Company

for Strong Korea Forum May 26th 2021

Hyundai Engineering- Reactor P/C- Plant E/P/C

- O&M, Investor- Project Developer

SMRDesigner

Off-Taker

Electricity

Hydrogen

Process Heat

* EPC : Engineering, Procurement, Construction

Desalination

Items Contents

Project Name

Location

Off-taker

Participation type

Plant Information(Reactor Type,Power)

Period

Progress method

Chalk River

Port of Montreal

200km

Toronto

■

Nuclear Fuel & Reactor

Date Major Progress

2015. 09. HEC-USNC-GFP MOU for MMR Development

2017. 06 ~’18. 05

MMR Concept Design

2017. 09’19.03

VDR (Vendor Design Review) Phase 1 byCanadian Nuclear Safety Commission(CNSC)

2018. 10Applied for permission to use the site MMR-CRP (Demo Plant)

2019. 03.Selected as the final negotiator for site approval of MMR CNL site

2019. 04.Applied environmental impact assessment for MMR-CRP to CNSC (1st Step for CNSC Licensing)

2020. 05MOU between HEC-KAERI for ‘Development with high temperature gas cooled reactor(HTGR) and hydrogen production’.

2020. 06Global First Power(GFP) JV, ShareholdingAgreement between USNC and OPG (50:50)

2020. 07Signed MOU between HEC-KAERI-USNC for MMR project Development

2020. 09 HEC-USNC, Strategic Cooperation Agreement

2020. 09 ~’21. 06

MMR-CRP Basic Design

2021. 10 Start of Detailed Design

MMR project is the first SMR EPC project performed by Korean EPC company,

Hyundai Engineering Co.

It is beneficial that Korean EPC company try to construction SMR because

the capital cost of SMR is much less than 1 billion dollar and can get easily

the financing after successful demonstration project.

the Korean EPC company have much more experience about construction in

harsh environment and project developer in the world market.

If despite of much risk, Korean EPC company will be the first mover, the market

of SMR will be Blue Ocean for the challenger.

Therefore, the financial support from government and financial organization is

needed for the successful demonstration of SMR.