US, Japan, Korea advance small modular reactor deployment pact

US, Japan, Korea advance SMR pact as industry group targets $150 billionAnalysis

The three countries launched an implementation plan for their reactor pact, and a four-company group tied to it set a $150 billion investment goal for Europe.

By OGGN Staff·23 Sep 2026, 08:00·2 min read

Cooling towers at a nuclear power station

Example of a nuclear power station, not the site in this story. Photo: Vsatinet, CC BY-SA 4.0.

The United States, Japan and South Korea turned their nuclear cooperation pact into an active work plan on September 23, 2026, announcing an Implementation Plan on the margins of the United Nations General Assembly in New York. The announcement followed a trilateral ministerial meeting among the three countries. The same day, a four-company industry group said it aims to promote more than $150 billion in reactor investment in the coming years.

What the implementation plan covers

The Implementation Plan supports the Memorandum of Cooperation (MOC) on Small Modular Reactor (SMR) Deployments in Other Countries, which Secretary Rubio signed with his Japanese and Korean counterparts in Ankara on July 7, 2026. The State Department said the MOC and the new plan set out an agenda for deploying SMR fleets to meet growing global energy demand, and that the arrangement supports the three countries' mutual security interests.

Small modular reactors are nuclear plants built at a fraction of the size of conventional reactors, largely assembled from factory-made components rather than built entirely on site. That design is meant to let them go up faster and in more locations than traditional nuclear plants.

The industry framework

Deputy Secretary of State Christopher Landau attended and welcomed the signing of an industry framework built around the same goal. It brings together four companies working on the BWRX-300 small modular reactor:

GE-Vernova (United States)
Hitachi (Japan)
Samsung C&T (South Korea)
SGE (Poland)

The consortium said it aims to deliver reliable baseload power to millions of people across Europe and to promote more than $150 billion in reactor investment in the coming years.

The State Department's framing

The State Department called the industry signing an important milestone, saying it shows the value of combining the four countries' industrial strengths to speed up deployment of reactors built to high standards of nuclear safety, security and nonproliferation. It tied the framework to the broader trilateral MOC signed earlier this year.

Why it matters

Three governments now have an industrial anchor for their reactor pact: a named vendor group, a specific reactor design, and a stated investment target. Poland's inclusion also extends the American-Japanese-Korean SMR push beyond the three original MOC signatories into a fourth country.

The catch

The $150 billion figure is a target the consortium aims to promote in the coming years, not capital already committed to named reactors, and the announcement is an industry cooperation framework rather than a signed construction contract.

What's next. Watch for the Trilateral MOC Fact Sheet and any follow-on announcements naming specific European sites, unit counts, or delivery dates for the BWRX-300 framework.

Sources

PrimaryUS State Dept · state.gov

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US, Japan, Korea advance SMR pact as industry group targets $150 billionAnalysis

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