■ Hyundai E&C and Westinghouse successfully co-host the Finland-Sweden Nuclear New Plant Symposium on the 10th and 11th  

■ Hyundai E&C Expands Global Nuclear Ecosystem Collaboration Through Engagements on Next-Generation Reactors, Including SMRs in Sweden and MSRs in the Netherlands 

■ Tailored Local Events in Finland, Sweden, and the Netherlands Demonstrate the Strength of K-Nuclear Construction

Prior to the Finland-Sweden Nuclear New Plant Symposium hosted at the Business Finland headquarters in Helsinki, Finland, on March 10th and 11th (local time), key dignitaries, including Hyundai E&C CEO Lee Han-Woo (sixth from left), pause for a commemorative photograph.

Hyundai E&C is solidifying its position as a key global partner poised to lead the energy transition in Northern Europe.

On March 10th and 11th (local time), Hyundai E&C, in conjunction with the American nuclear powerhouse Westinghouse, hosted the Finland-Sweden Nuclear New Plant Symposium at the headquarters of Business Finland (the Finnish government's trade and investment promotion agency) in Helsinki, Finland.

Conceived to showcase the proprietary technologies of both companies and share their strategic vision for the global nuclear sector, the event drew a packed audience. Notable attendees included Hyundai E&C CEO Lee Han-Woo and Westinghouse Senior Vice President Joel Eacker, alongside key government figures such as Finnish Ambassador for Trade Promotion Harri Mäki-Reinikka, Korean Ambassador to Finland Kim Jung-ha, and U.S. Ambassador to Finland Howard Brodie, joined by representatives from over 100 Northern European nuclear organizations and industry stakeholders.

Having spearheaded the European nuclear renaissance by securing the design contract for the large-scale Kozloduy Nuclear Power Plant in Bulgaria, Hyundai E&C and Westinghouse are accelerating their business footprint across the continent. Following the initiation of a technical feasibility study for a new nuclear power project in Slovenia last year, the companies recently entered into an Early Works Agreement (EWA) with Fortum, a Finnish state-owned energy company, laying the groundwork for new nuclear power plant construction. 

More specifically, this symposium garnered substantial interest from local industries by presenting operational strategies and progress reports for AP1000® nuclear power plant construction projects—which have already commenced early preparatory work in Northern Europe—as well as exploring cooperative opportunities in major equipment and service sectors.

In his opening remarks, Hyundai E&C CEO Lee Han-Woo stated, “The extensive nuclear power plant construction experience and EPC capabilities that Hyundai E&C has accumulated worldwide, combined with Westinghouse's premier global nuclear technology, will significantly contribute to the energy transition and ensure stable power supplies for Northern European nations.” He articulated his vision, adding, “I sincerely hope this symposium will serve as the launchpad for long-term collaboration that creates tangible value for industries and local communities across Northern Europe, including Finland and Sweden.” 

In addition, on March 11th (local time) in Stockholm, Sweden, Hyundai E&C engaged in discussions alongside the U.S.-based Holtec International to establish a cooperative framework to facilitate market entry into the Swedish Small Modular Reactor (SMR) segment.

Meeting with prominent Swedish government officials, the leadership from both companies provided an in-depth briefing on the competitive edge of the SMR project championed by Hyundai E&C and Holtec, expressing strong determination to advance into the Swedish market. Looking ahead, both enterprises intend to jointly spearhead a range of initiatives to deploy Sweden's inaugural SMR, and formally requested the unreserved support of the Swedish government to that end. 

Prior to the symposium, Hyundai E&C took another major leap by signing a ‘Strategic Memorandum of Understanding for Molten Salt Reactor (MSR) Technology Cooperation’ on March 9th (local time) at the Amsterdam headquarters of Thorizon in the Netherlands. Thorizon, a dynamic spin-off from the Nuclear Research and Consultancy Group (NRG) of the Netherlands, is pioneering the development of the Thorizon One, a 100MW MSR.

Distinct from conventional nuclear plants utilizing solid nuclear fuel rods, Thorizon One employs liquid molten salt. This breakthrough not only enhances reactor safety but also addresses the nuclear waste dilemma by recycling spent nuclear fuel as a primary energy source, highlighting it as a next-generation reactor. Selected as a flagship project for the European Union's (EU) Industrial Alliance on SMRs, the Thorizon One also recently secured EUR 10 million in subsidies from the French government. 

Hyundai E&C plans to resolutely anchor its footing in the next-generation nuclear power plant market through targeted technical collaboration with Thorizon. This will involve ▲exchanging advanced technical data, ▲exploring the joint development and commercialization of MSR projects, and ▲scouting robust opportunities for joint market entry on a global scale. 

A Hyundai E&C official commented, “Northern European countries, including Finland and Sweden, have recently pivoted their energy policies from focusing exclusively on ‘100% renewable energy’ toward adopting a more comprehensive ‘100% fossil fuel-free energy’ mandate to handle skyrocketing electricity demand and realize net-zero greenhouse gas emissions. Consequently, their interest in nuclear energy is resurgent.” The official emphasized, Building on our ironclad partnership with Westinghouse, Hyundai E&C will expand opportunities for large-scale nuclear power plant construction in Northern Europe. At the same time, we will diversify on-the-ground collaborations with various global partners in next-generation reactor sectors such as SMRs, enabling us to actively lead the global nuclear supercycle”