Bill Gates, chair of the Gates Foundation, speaks during a media roundtable in Seoul on Aug. 21, 2025. (Image courtesy of Yonhap)
SEOUL, Aug. 22 (Korea Bizwire) — South Korean business tycoons held a series of meetings with Bill Gates, chair of the Gates Foundation, during his visit to Seoul this week, discussing various agenda items from business ties to corporate social responsibility projects, industry sources said Friday.
Samsung Electronics Chairman Lee Jae-yong met with Gates earlier in the day at his company’s building in southern Seoul, exchanging views on cooperation in the corporate social responsibility sector, the company said, without providing further details.
The South Korean tech giant began its collaboration with the foundation in 2011 through the Reinvent the Toilet project, which focused on building hygienic toilets in developing nations.
HD Hyundai Executive Vice Chairman Chung Ki-sun also held talks with Gates on cooperation in small modular reactor (SMR) projects pursued by the U.S. billionaire’s startup TerraPower LLC, the company said in a press release.
Chung met Gates, chairman and founder of TerraPower, in Seoul to discuss ways to expand the supply of Natrium reactors developed by the U.S. firm and to promote their commercialization.
TerraPower’s Natrium reactors are regarded as among the most advanced SMRs currently in development. They offer high thermal efficiency and enhanced safety, and generate about 40 percent less nuclear waste compared with conventional reactors.
“Next-generation SMR technology is a core solution for realizing sustainable future energy. Our partnership with TerraPower will serve as a turning point in building a global nuclear supply chain and accelerating the energy transition,” Chung said.
Under a memorandum of understanding (MOU) signed in the United States in March, HD Hyundai agreed to supply TerraPower with reactor vessels for the first Natrium reactor, according to the release.
“HD Hyundai is not only a globally recognized shipbuilder but also a key supply chain partner with deep manufacturing expertise that will play an important role in the global nuclear industry,” Chris Levesque, president and CEO of TerraPower, said.
He said he expects the collaboration to speed up the commercialization of Natrium reactors and create new opportunities in the global market.
Meanwhile, HD Hyundai is also stepping up efforts to develop nuclear-powered vessels, including joint work with TerraPower on molten salt reactor (MSR) technologies for potential applications in shipbuilding, the company added.
Gates, co-founder of Microsoft, was visiting South Korea to explore cooperation with local pharmaceutical companies on vaccine supply projects for low-income countries.
He also met President Lee Jae Myung on Thursday to exchange views on advanced industries, including artificial intelligence (AI) and SMRs, a type of advanced reactor designed for modular deployment.
SK Group Chairman Chey Tae-won, meanwhile, met with Gates the previous day as well, discussing a wide array of potential business cooperation from SMRs and vaccines to energy.
“I believe South Korea and SK can play a key role in the commercialization of TerraPower’s SMR,” Chey was quoted as saying by the group during the meeting. “We should make joint efforts to enhance the market viability of SMRs based on their safety, efficiency and environmental friendliness.”
SK Inc., the holding company of SK Group, and SK Innovation Co. jointly invested US$250 million in 2022 to become the second-largest shareholder of TerraPower.
In response, Gates highlighted the South Korean government’s role in establishing regulatory systems and supply chains to accelerate the development of next-generation SMRs.
(Yonhap)
