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Korea Eximbank Governor Hwang Ki-yeon (left) shakes hands with TerraPower Chairman Bill Gates on the 14th. / Korea Eximbank

Korea Eximbank is pursuing financial cooperation with TerraPower, the next-generation nuclear company founded by Bill Gates, to support the commercialization of small modular reactors (SMR) and their expansion into global markets. The plan is to provide tailored financing — including loans and guarantees — for global nuclear projects jointly pursued by TerraPower and Korean companies, backing the overseas expansion of Korea's nuclear industry.

Korea Eximbank announced on the 14th that Governor Hwang Ki-yeon met with TerraPower Chairman Bill Gates to discuss financial cooperation for SMR commercialization and global market expansion.

The meeting was arranged amid SMR's emergence as a solution to power challenges in the AI era, aiming to expand the global SMR ecosystem and strengthen Korea-U.S. cooperation on next-generation nuclear power. Both sides agreed that combining TerraPower's technology with the manufacturing and construction capabilities of Korea's nuclear supply chain could generate synergy in the global market.

TerraPower is a U.S. next-generation SMR company founded by Bill Gates in 2008. It has developed the "Natrium" reactor, which uses sodium as a coolant to enhance safety, and is building a demonstration plant in Wyoming.

Korea Eximbank plans to proactively design tailored financing packages — including loans and guarantees — to support funding for global nuclear projects jointly pursued by TerraPower and Korean companies. Once SMRs reach the stage of mass deployment, the bank also plans to strengthen cooperation with global financial institutions such as the U.S. Export-Import Bank (US EXIM) to explore joint financing structures.

Gates said, "Korean companies' outstanding nuclear manufacturing and construction capabilities, combined with Korea Eximbank's tailored financial support, are key drivers that can accelerate the commercialization of TerraPower's SMR," adding, "We hope this cooperation becomes a catalyst for the global clean energy transition and expansion into third-country markets."

Governor Hwang said, "Next-generation SMRs are a core pillar for solving power challenges in the AI era and for the strategic Korea-U.S. nuclear partnership," adding, "We will actively support Korean companies in securing an early foothold in the global SMR market by combining the world's top-tier K-nuclear supply chain with Korea Eximbank's financing capabilities."

                                                                                                             Park Seo-ah