An MOU was signed between the Ministry of Science, ICT and Future Planning (MSIP) of South Korea and the King Abdullah City for Atomic and Renewable Energy (K.A.CARE) of the Kingdom of Saudi Arabia on March 3, 2015. It was signed in Riyadh, Saudi Arabia following a summit meeting between both countries. Under the agreement, both countries will conduct three-year pre-project engineering to prepare preliminary safety analysis report of FOAK plants in Saudi Arabia. The MOU also calls for both countries to cooperate on the commercialization and promotion of the SMART reactor to third countries.
Outline of MOU dated March 3, 2015
Joint Execution of Pre-Project Engineering (PPE)
Establishment of SMART Power Company (SPC)
Construction of 2 Units of SMART by SPC in Saudi Arabia
Human Capacity Building for Saudi Experts
Joint Marketing of SMART to 3rd Countries
SMART Pre-Project Engineering (PPE) Agreement
KAERI signed a cooperation agreement which is called “PPE Agreement” with K.A. CARE for building SMART reactors and developing human resources capability to run them in Riyadh, Saudi Arabia on September 2, 2015. It aims at building partnership to establish knowledge infrastructure in SMART technology fields, such as designing and building SMART reactors and maintaining their mechanical and safety features. This agreement came in the framework of the MOU signed between both countries on March 3, 2015.