On August 14, reports from South Korean media revealed that Bill Gates, co-founder of Microsoft and founder of TerraPower, held discussions with SK Group Chairman Chey Tae-won, HD Hyundai Group Chairman Chung Ki-sun, along with prominent South Korean political and business leaders. The focus of these talks was on potential collaboration in small modular reactors (SMRs) and power supply solutions for artificial intelligence (AI). During his meeting with Chey, Gates explored strategies to meet the escalating energy demands of AI data centers. They also discussed the trajectory of next-generation nuclear energy development and the prospects for U.S.-South Korea cooperation in the nuclear sector.
In 2022, SK Group and SK Innovation made a joint investment of $250 million in TerraPower, thereby becoming its second-largest shareholder. On the same day as Gates' meetings, SK Innovation entered into a business cooperation agreement with TerraPower concerning sodium-cooled small modular reactors.
Furthermore, Gates held discussions with Chung and Lee Han-woo, CEO of Hyundai Engineering & Construction, to assess the progress of previously signed commercial agreements. In May of this year, the three companies reached a consensus to jointly advance the commercialization of sodium-cooled reactors and establish a clear division of labor among them.