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SMRs are one of the key technology areas for which US-S.Korea agreed to bolster alliance Doosan Group will invest 5 trillion won ($4 billion) over the next five years, primarily in next-generation energy sectors such as small module reactors (SMRs), gas turbines, hydrogen turbines and hydrogen fuel cells, the South Korean business group said on Wednesday.In particular, Doosan will put its priority on SMRs, a type of nuclear fission reactor and a key area for which both South Korea and the US agreed to bolster their technology cooperation beyond semiconductors and rechargeable batteries during Joe Biden's Seoul trip last weekend.About one-150th the size of a conventional nuclear reactor, SMRs are regarded as next-generation energy providers due to their safety, lower costs and operational efficiency compared with existing large nuclear power plants.The US-based NuScale Power in 2020 became the only company, whose SMR design was approved by the US Nuclear Regulatory Commission.Doosan had bought a combined $104 million worth of shares in NuScale in two rounds between 2019 and 2020. The investment led to Doosan winning a billion-dollar supply contract for key SMR equipment from NuScale.Doosan is also trying to secure an order to supply key SMR equipment to X-energy, a US nuclear reactor company, which last year outsourced the design and manufacture of SMRs to Doosan. NuScale Power’s proposed small modular nuclear reactor plant, to be located at Idaho National Laboratory, Idaho (Courtesy of NuScale) GAS AND HYDROGEN TURBINESFor both gas turbines and hydrogen turbines, Doosan Enerbility in 2019 became the world’s fifth developer of gas turbines for use in 270 megawatt (MW) plants. It is now installing the turbines in a domestic plant for combined heat and power generation, which will begin test operation from next year.Doosan is also developing an advanced model of gas turbines for use in plants with a 380 MW capacity, as well as hydrogen turbines. It sources over 90% of the components of both gas turbines and hydrogen turbines from about 340 domestic suppliers.OTHER NEW BUSINESSESFurther, it will branch out into collaborative robots and hydrogen-powered drones, in addition to advanced materials used to store medical products and 5G antennas.To beef up the semiconductor-related business, Doosan acquired a domestic semiconductor testing company Tesna last year. It is the first time for Doosan Group to unveil such a massive investment in 10 years and comes three months after it wrapped up its creditor-led restructuring program after 23 months in February.The group had fallen into a liquidity crisis, hit hard by the previous administratin’s nuclear phase-out policy and financial support to debt-ridden Doosan Engineering & Construction Co.In 2020, Doosan Group was rescued by 3 trillion won in emergency funding from creditor banks on the condition that it carries out painful restructuring, including asset sales.The five-year investment blueprint was announced almost simultaneously with those of other major Korean business groups, two weeks after President Yoon Suk-yeol began his five-year term. By Kyung-Min KangKkm1026@hankyung.comYeonhee Kim edited this article
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