Suresofttech wins deal to verify NuScale’s mini reactor software

The deal comes amid Korean president-elect Yoon’s vow to scrap the current government’s nuclear phase-out plan

Aerial view of NuScale Power’s small modular reactor model

Hae-Sung Lee 2

2022-03-11 13:14:59 ihs@hankyung.com

Energy

Suresofttech Co., a South Korean developer of verification tools for software quality, has won a deal to check a key system in small-size reactors made by US nuclear fission technology provider NuScale Power LLC.

The Korean software tools maker said on Thursday the deal is to verify the control rod drive system (CRDS) in small modular reactors (SMRs) under construction by NuScale.

The control rod drive is one of the most important safety-related systems as it moves the rods in and out of the reactor.

Launched in 2002, Suresofttech has been closely working with Doosan Heavy Industries & Construction Co., a Korean nuclear power plant builder.

Doosan has a stake in NuScale as the Korean company seeks to expand its presence in the global SMR business. It is supplying equipment to advanced pressurized water reactors under construction by NuScale.

Doosan and NuScale Power sign an equity investment and business collaboration agreement

Small modular reactors are drawing attention as next-generation energy sources due to their lower investment costs and fewer carbon emissions than existing large nuclear power plants.

A growing number of US companies, including Oklo Inc. and TerraPower, founded by Bill Gates, are joining the promising market.

In Korea, Suresofttech’s major clients include Hyundai Motor Co. as well as state-run nuclear power plant operators.

“The deal with NuScale proves our software verification technology on a global scale,” said Suresofttech Chief Executive Bae Hyeon-seop.

He earned a doctoral degree in computer science at the Korea Advanced Institute of Science and Technology (KAIST).

RESETTING ENERGY POLICY UNDER NEW PRESIDENT

Yoon Suk-yeol, South Korea's next president

The latest deal comes amid growing industry expectations that Korea’s new president will foster the nuclear power business, a turnaround from the outgoing Moon Jae-in administration.

On Wednesday, Yoon Suk-yeol, the main opposition candidate of a conservative party, the People Power Party, won Korea’s presidential election. He won 48.6% of the votes, leading marginally over the runner-up, Lee Jae-myung, the progressive ruling Democratic Party candidate.

Yoon has indicated an intention to rescind the current government policy of phasing out nuclear energy and intends to promote the development of small modular reactors.

On Thursday, nuclear energy-related shares rose, taking a cue from the president-elect’s policy shift.

Kosdaq-listed Bosung Powertec Co. jumped 15.9% to close at 6,840 won. Iljin Power Co. finished 4.5% higher at 20,950 won.

Write to Hae-Sung Lee at ihs@hankyung.com
In-Soo Nam edited this article.