HD Hyundai Heavy Industries to Build Power-Generation Engine and Small Modular Reactor Plants in Ulsan

【Financial News Ulsan=Choi Soo-sang, reporter】 HD Hyundai Heavy Industries will invest KRW 1 trillion in Ulsan to build a power-generation engine plant and a dedicated plant for manufacturing the main equipment for small modular reactors (SMRs).
Kim Sang-wook, mayor of Ulsan Metropolitan City, and Lee Sang-gyun, CEO of HD Hyundai Heavy Industries, signed an investment memorandum of understanding on the matter at City Hall on the 22nd.
Construction of both facilities is scheduled to begin in the first half of next year.
The production base for the HiMSEN engine power-generation brand will be built in Onsan-eup, Ulju County, with a capacity of 3 GW. The HiMSEN engine is a medium-sized engine independently developed by Hyundai Heavy Industries after 10 years of research and development. It features a lightweight design with high output and efficiency, along with a broad lineup of models powered by diesel and natural gas.
The investment in the production base is aimed at responding to the explosive expansion of artificial intelligence data centers (AIDCs) and the resulting increase in power demand. A multipurpose power-generation equipment manufacturing facility will be established.
The dedicated plant for manufacturing the main equipment for small modular reactors (SMRs) will be built at the Hyundai Heavy Industries headquarters in Jeonha-dong, Dong-gu, Ulsan. It will serve as a production facility for core equipment for the next-generation nuclear power industry and as a production base to meet the future expansion of the global SMR market.
Under the memorandum of understanding, HD Hyundai Heavy Industries agreed to help revitalize the local economy by giving priority to Ulsan residents when hiring personnel needed for its production facility investment and future plant operations. The company will also strive to work with businesses in Ulsan in construction, services, and the procurement of goods.
Ulsan Metropolitan City will provide administrative support to ensure the power-generation engine and small modular reactor plants are built swiftly, including shortening various permitting and licensing periods and easing regulations to encourage greater corporate investment.
Lee Sang-gyun, CEO of HD Hyundai Heavy Industries, stated, "This investment is an important starting point for leading the future energy industry market. We will proactively respond to surging power demand while taking the lead in the global AI-based market."
Kim Sang-wook, mayor of Ulsan Metropolitan City, said, "We warmly welcome HD Hyundai Heavy Industries' large-scale investment in production facilities, which will open the region's future," adding, "By joining forces, we will do our utmost to help Ulsan grow into a world-class production hub for the energy industry."
[email protected] Choi Soo-sang Reporter