1 Hyundai E&C teams up with Holtec for SMR partnership
Hyundai E&C signs a deal for SMR design and deployment agreement
Hyundai E&C has finalized a partnership deal with Holtec International, a leading US company in the nuclear power industry, under which Hyundai E&C will gain exclusive rights for small modular reactors (SMR) under development by Holtec in the global market.
Hyundai E&C signed a teaming agreement with Holtec International on November 22 (local time) to develop a commercialization model, cooperate in marketing and bidding and promote related businesses. The signing ceremony was held in New Jersey, U.S. with the attendance of Hyundai E&C CEO Yoon Young-Joon, Holtec International CEO Dr. Kris Singh and officials from the two companies.
Hyundai E&C will take this opportunity to lay the foundation for diversifying our business portfolio by preparing for better responses to the future business environment, expanding new eco-friendly and low-carbon business sectors, and securing exclusive rights for the design, procurement and construction for the SMRs in the global market.
The SMR-160 by Holtec, which is capable of producing 160 megawatts electric power, can be set up in areas with extreme conditions such as in desserts or polar regions, boasting of safety and stability. The design completed the first phase of the Canadian Nuclear Safety Commission’s pre-licensing vendor design review and is undergoing pre-licensing activities with the US Nuclear Regulatory Commission.
2 Hyundai E&C selected as world’s no. 1 sustainable builder
In the 2021 Dow Jones Sustainability Indices (DJSI), Hyundai E&C has been added to the DJSI World for 12 consecutive years as well as ranked the first as the Industry Leader in the construction and engineering sector for two years in a row.
The DJSI World tracks the performance of the top 10-percent companies among 2,500 global companies based on market capitalization. This year, only three construction companies around the globe have been added to the DJSI World. Our company has been selected as the Industry Leader in the construction and engineering sector nine times in total, the first of its kind in the industry.
The DJSI evaluates sustainability in three categories including Environment, Social and Governance (ESG). Our company received higher points in areas such as strengthening the expertise of BoD, declaration of Coal Exit Policy, ESG Risk Management, strengthening safety and health management, reinforcing ethical and compliance management, evaluation of ESG management at partner companies, and expanding disclosure of non-financial information (introduction of WEF ESG metrics).
In addition, Hyundai E&C received Grade A four years in a row in the 2021 Environment, Social and Governance (ESG) evaluation released by the Korea Corporate Governance Service (KCGS). The evaluation was conducted on 765 listed domestic companies.