Won Kwang-sik (left), head of the offshore & energy business unit at HD Hyundai Heavy Industries, and Chris Levesque, CEO of TerraPower, pose for a photo after signing an agreement on Tuesday. (HD Hyundai Heavy Industries) HD Hyundai said Thursday that its shipbuilding arm HD Hyundai Heavy Industries signed a framework agreement with TerraPower to supply key components for next-generation sodium-cooled nuclear reactors, strengthening its push into the global small modular reactor market.The signing ceremony was attended by Won Kwang-sik, head of HD Hyundai Heavy Industries’ offshore and energy business unit, and Chris Levesque, CEO of TerraPower, along with executives from both companies.Under the agreement, HD Hyundai Heavy Industries will become the preferred supplier for manufacturing and delivering enclosure systems for TerraPower’s Natrium reactor, a core structure surrounding the reactor.The deal follows an earlier agreement signed in March 2025 to expand the global manufacturing supply chain and accelerate commercialization of TerraPower’s sodium-cooled reactor technology. Over the past year, the two companies have jointly reviewed manufacturing feasibility, pricing competitiveness and delivery schedules.TerraPower’s Natrium reactor is a fourth-generation sodium-cooled fast reactor and is regarded as one of the most advanced SMR technologies currently under development, particularly in terms of safety and commercialization readiness.HD Hyundai said the partnership would help it secure a foothold in the global SMR market.According to market research firm Fortune Business Insights, the global nuclear power market is projected to grow from $40.4 billion in 2024 to $52.6 billion by 2034.“This agreement not only reinforces our strategic partnership with TerraPower, but also serves as a foundation for entering the global small modular reactor market,” Won said.“Through this partnership, we have secured a foundation for commercializing our Natrium reactors, and we believe HD Hyundai has the capabilities to support large-scale nuclear energy deployment,” Levesque said.Separately, HD Hyundai also signed a trilateral business cooperation agreement with TerraPower and Hyundai Engineering & Construction to collaborate on next-generation Natrium reactor projects globally.Under the agreement, HD Hyundai and Hyundai E&C will cooperate on engineering, procurement, construction and the supply of key equipment for future nuclear power projects.