SK Group Is The Latest Korean Conglomerate To Expand Into Nuclear Power Amid Low-Carbon BoomSK Group is planning to partner with a
nuclear power company backed by Bill Gates, becoming the latest South Korean conglomerate to expand its presence in the
low-carbon energy space.SK Inc, the holding company for billionaire
Chey Tae-won’s SK Group, and its affiliate SK Innovation signed a memorandum of understanding earlier this month with Washington-based
TerraPower to “foster the development of next-generation nuclear energy solutions.
Founded in 2006 by the Microsoft cofounder, TerraPower designs
small-scale modular nuclear reactors, known as SMRs, which are quicker to construct and cheaper compared to conventional nuclear reactors.
The global nuclear power plant and equipment industry was worth $41 billion in 2020 and is expected to reach
$58 billion by 2030. Last year, Chey pledged to cut 200 million metric tons of carbon emissions in 2030.
