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The corporate identity of Hanmi Global. / Courtesy of Hanmi Global

Hanmi Global is making a full-scale push into the U.S. small modular reactor (SMR) market. The company is accelerating its market entry by pursuing the establishment of a local SMR project development company while actively pitching its business strategy to potential clients and partners.

Hanmi Global announced on June 24 that it hosted an SMR seminar in Washington, D.C., on June 22 (local time). The event was co-organized with the Global America Business Institute (GABI), an international energy and climate policy institution.

The seminar drew policy makers and nuclear industry insiders, alongside potential buyers including data center operator EdgeCore, utility giant Dominion Energy, and the Edison Electric Institute (EEI). Major U.S. SMR developers like TerraPower, ARC Clean Technology, and Core Power also attended, alongside South Korean nuclear supply chain firms including Doosan Enerbility, POSCO International, and KEPCO E&C, to discuss avenues for collaboration.

During the seminar, Hanmi Global detailed its roadmap for establishing a U.S.-based SMR project development entity and showcased its project management expertise. The company's strategy focuses on entering the U.S. market through a comprehensive business development model that manages the entire lifecycle of a project—spanning planning, licensing, engineering, procurement, construction, and grid connection.

Driven by the proliferation of AI data centers, the demand for stable, carbon-free power has been surging in the U.S., fueling high growth expectations for the SMR sector. However, given the labyrinthine complexities of navigating licensing, securing supply chains, controlling project costs, and aligning stakeholders, specialized project management capabilities are widely considered paramount.

Hanmi Global envisions using the new local subsidiary as a launchpad to support South Korean nuclear design, equipment, and construction firms entering the U.S. market. The entity intends to identify local business opportunities, assist in project execution, and serve as a bridge connecting South Korea's robust supply chain with American buyers.

The firm has been steadily ramping up its nuclear partnerships of late. In January, it forged a strategic alliance with KEPCO E&C and the UK’s Turner & Townsend for global nuclear project cooperation, followed by a May agreement with AtkinsRéalis to jointly pursue nuclear and industrial plant ventures in the U.S. Building on its project management (PM) services contract secured last year for the lifetime extension of Romania's Cernavoda Nuclear Power Plant Unit 1, the company is also providing PM technical support for the construction of Shin-Hanul Units 3 and 4 this year.

Its deep-rooted track record in the U.S. market stands out as a core competitive advantage. Since acquiring the U.S. engineering and PM firm OTAK in 2011, Hanmi Global has successfully delivered an array of local industrial projects, including semiconductor facilities, secondary battery plants, and subsea cable manufacturing sites.

"The growth potential of the U.S. SMR market is expanding rapidly, underpinned by the scaling of AI data centers and mounting electricity demands," a Hanmi Global official stated. "Leveraging the technical prowess of the domestic nuclear industry alongside our extensive operational experience in the U.S., we are moving forward with establishing a dedicated local project development firm."

                                                                                                           Jeon Won-jun