Calendar of International Trade Programs and Events

Sector: Clean Technologies

Market Region: Asia and Australasia

Date: June 9, 2025 (09:00-13:00, EST)

We are delighted to invite you to an in-person business networking event for Ontario companies to meet with and discuss supply and partnership opportunities with a delegation of Korean Nuclear Power companies, including KHNP and KNA. We will provide company profiles after your registration of interest. The in-person event will be held on June 9 (Monday) from 09:00AM to 13:00PM EST (Toronto time) at the Ontario Investment & Trade Center, and it is Free of Charge. Virtual participation is welcome (a Teams link will be provided).

 

Description: You are invited to the business networking event (limited seats available), co-hosted with KOTRA (Korea Trade-Investment Promotion Agency). This event aims to provide opportunities to Ontario companies to meet and connect with Korean companies and industry professionals in the nuclear sector. 

 

Background: South Korea, officially the Republic of Korea, is the 12th largest global economy with a GDP of US$1.59 trillion, a population of 51.7 million, and a GDP per capita of US$30,644. It thrives in sectors like electronics, telecommunications, automotive production, chemicals, shipbuilding, and steelmaking, driven by major conglomerates such as Samsung, Hyundai, LG, SK, Lotte, POSCO, Hanwha, Hanjin, GS, and CJ, which account for 80% of the country's economy. The Canada-Korea Free Trade Agreement (CKFTA) grants Canadian exporters preferential, tariff-free access to this significant market. South Korea is a key trade partner for Ontario and an increasing source of foreign direct investment. South Korea is home to a number of nuclear power plants that account for significant portion of the nation's clean energy supply, including 3 units of Canadian CANDU pressurized heavy water reactors (4th unit was shut down permanently). The Nuclear Power market in South Korea is projected to grow by 1.95% (2024-2029) resulting in a market volume of 200.60bn kWh in 2029. As of May 2022, South Korea ranked third worldwide in terms of the number of nuclear reactors under construction, right under China and India. It also previously placed fifth in the worldwide distribution of nuclear power generation. One key reason as to why South Korea has looked toward nuclear sources for energy production is due to its lack of natural resources. Korea's nuclear power plant business has essentially three pillars: the construction business, the equipment business and the small modular reactors (SMRs) business, though the SMRs are still in development. While Doosan, the only company in Korea that manufactures key equipment for nuclear power plants, is exporting components, Korea's overseas nuclear business is mostly centered on construction. A government-led project to develop the next generation SMRs is underway as well. The Yoon administration promised to invest roughly 400 billion won in the development of the next generation of SMRs in its first energy policy plan. And the private sector is speeding up research and development of SMRs as well by signing contracts or non-binding agreements with overseas companies. This meeting event aims to provide Ontario companies with perspectives of business opportunities related to nuclear power initiatives in Korea. 

 

Agenda: Opening and Welcome Message; Speech Session 1: Ontario Companies; Speech Session 2: Korean companies; Session 3: Networking.

 

Contact: Stephen Ip, Japan & Korea, Trade Programs Branch, MEDJCT; email: stephen.ip@ontario.ca; 437-339-1529