Korea Hydro & Nuclear Power, the state-run nuclear operator, signed a cooperation agreement with California-based Oklo to develop fourth-generation small modular reactor technology, as both companies race to capitalize on growing demand for compact nuclear power.
The memorandum of understanding, signed May 23 at KHNP’s Seoul facility, focuses on Oklo’s planned “Aurora powerhouse” reactor design. The partnership will explore collaboration on design verification, component manufacturability assessment, and supply chain establishment for balance-of-plant systems.
Oklo is developing fast reactors with capacities ranging from 15 to 100 megawatts and aims to deploy its first commercial unit at Idaho National Laboratory by late 2027. The startup’s 15-megawatt version carries an estimated price tag of around $70 million, though the company has faced regulatory setbacks, with nuclear regulators rejecting an earlier application for a smaller reactor design in 2022.
The deal represents KHNP’s latest effort to expand internationally while developing its own competing i-SMR technology. The Korean firm’s 170-megawatt design targets completion by year-end with regulatory approval sought by 2028. KHNP has recently signed similar agreements with partners in Norway, Sweden, and Indonesia as nations seek alternatives to large-scale nuclear plants.
Oklo has secured letters of intent for approximately 14 gigawatts of reactor capacity, largely driven by data center operators seeking reliable clean power for artificial intelligence computing. However, the company must still navigate lengthy licensing processes and secure adequate fuel supplies to meet ambitious deployment timelines.
