SeAH Besteel is committed to manufacturing and supplying Korean standard spent nuclear fuel transportation casks worth KRW 35 billion by the year 2025. SeAH Besteel has garnered high scores in key areas, including nuclear product assembly technology, systematic progress management capacity, and a strong track record of supplying numerous products for nuclear power plants. The spent nuclear fuel transportation cask market is poised for continuous growth, driven by increasing investments in new nuclear power plants and rising operating ratios of existing facilities worldwide.

On July 18, SeAH Besteel proudly announced its successful bid for a contract to supply spent nuclear fuel transportation casks to Korea Hydro and Nuclear Power (KHNP), valued at approximately KRW 35 billion. These specialized casks play a crucial role in safely transporting high-level radioactive waste from nuclear power generation to storage and processing facilities.

This achievement underscores SeAH Besteel's expertise and competitiveness in the nuclear industry, as they secured the contract through a rigorous and competitive bidding process. By winning this contract, the company further solidifies its position as a reliable and trusted partner in ensuring the safe and efficient management of nuclear waste.

SeAH Besteel's Commitment to Advanced Radioactive Shielding Casks for KHNP Contract

SeAH Besteel has been awarded a significant contract by KHNP to manufacture highly advanced radioactive shielding casks. Under this contract, the company is committed to delivering these casks to Hanbit Nuclear Power Site in Youngwang, Jeollanam-do, and Hanul Nuclear Power Site in Uljin, Gyeongsangbuk-do by 2025, fulfilling its obligations with utmost dedication.

In the competitive nuclear power market, safety and reliability are paramount when selecting a contractor. SeAH Besteel has earned high acclaim, obtaining impressive scores in crucial areas such as nuclear product assembly technology, systematic progress management capacity, and a proven track record of supplying numerous products for nuclear power plants.

SeAH Besteel's Advancements in the Nuclear Power Plant Parts and Components Market

Indeed, SeAH Besteel has been diligently accelerating its efforts to establish a strong presence in the nuclear power plant parts and components market. A significant step towards this goal was the establishment of a dedicated manufacturing plant in Gunsan back in 2019. This facility focuses on producing top-notch products specifically tailored for nuclear power plants. Through their commitment to excellence, SeAH Besteel achieved a remarkable milestone by becoming the first Korean company to successfully supply spent nuclear fuel transportation and storage casks to North America.

To further enhance their global competitiveness, SeAH Besteel has been achieving highly visible and prestigious accomplishments. Notably, they accomplished a noteworthy feat by passing the United States Nuclear Regulatory Commission's stringent quality assurance review in 2022. This review is renowned for its meticulous standards, making SeAH Besteel the sole Korean company to accomplish this feat. Such achievements demonstrate the company's dedication to upholding the highest quality standards in manufacturing spent nuclear fuel casks.

SeAH Besteel's Strategic Position in the Growing Nuclear Energy Market

With nations increasingly looking towards nuclear energy as a viable alternative for transitioning to eco-friendly power sources, there has been a notable surge in investments in new nuclear power plants and an uptick in nuclear power plant operations worldwide. Consequently, the demand for processing and transporting spent nuclear fuel is projected to grow substantially.

Seizing the momentum from their recent success in securing the contract for supplying Korean-standard spent nuclear fuel transportation casks, SeAH Besteel is strategically positioned to capitalize on the industry's burgeoning demand for nuclear power plant parts and components. As the market expands, the company plans to proactively explore additional opportunities to secure more business ventures.

The company's proactive approach in seeking out new opportunities aligns with the escalating requirements of the nuclear energy sector. By catering to the increasing needs of the industry, SeAH Besteel aims to play a significant role in supporting the global transition towards sustainable and environmentally friendly energy solutions. Their commitment to meeting the demands of the nuclear power market reinforces their position as a leading player in this vital and evolving industry.