The American nuclear renaissance is less of a one-man show and more of an international effort. Recent reports out of South Korea indicate the possibility of the country assisting the U.S. with constructing eight reactors. Japan is also considering additional nuclear investments in small modular reactor (SMR) projects. These reactor projects are supported by previously announced fuel chain coordination between the three nations, leading to opportunities across the nuclear value chain.
Key Takeaways
- South Korea is reportedly in talks with the U.S. to build up to eight large reactors in America.
- Japan is considering another round of investments in reactor projects in the U.S. This comes after previous multi-billion-dollar project support was announced in March.
- Reactor projects are underpinned by ongoing uranium enrichment cooperation between the three countries.
South Korea Could Bring Nuclear Construction Expertise to U.S.
South Korea is considering providing construction support for eight large reactors in the U.S. Reports out of South Korea indicate the investment could be as much as $120 billion for project support.
The reactors built under the agreement are anticipated to either be Westinghouse AP1000 reactors or a mix of U.S. and Korean designs. The grid-scale AP1000 from Cameco’s (CCJ) Westinghouse is capable of providing power to as many as 800,000 homes. The proposed design from Korea is significantly larger and could provide power to over 1 million homes.
These potential advancements follow recent efforts from the Department of Energy (DOE) to encourage production of long-lead components of the AP1000 reactor. The DOE issued conditional loan commitments for up to $17.5 billion to jumpstart construction of as many as 10 large reactors in the U.S.
Japan Could Provide Additional SMR Support Through New Investments
Japan announced a $550 billion strategic investment in the U.S. in 2025. The framework spans multiple industries, including energy production and nuclear power.
Japan’s second tranche of the investment program was announced in March 2026 and included up to $40 billion of nuclear development support. The investment was directed at the U.S.-Japanese joint venture between GE Vernova (GEV) and Hitachi (6501.TKS) for their BWRX-300 SMR. The reactor is designed to power over 200,000 homes and is planned for construction in Tennessee and Alabama.
See more: Where Will the Billions of Nuclear Funding Dollars Go?
Japan’s potential third tranche of investments could be pointed even more directly at the construction of SMRs in the U.S. Japanese news outlets report that the effort is in direct support of the U.S.’s ongoing AI race with China.
Multinational Partnership Supported by Nuclear Fuel & Supply Chain
Reliable fuel suppliers and experienced manufacturing firms are required to turn these reactor proposals into operating plants. The Vett"aFi Nuclear Renaissance Index (NUKZX)":https://www.vettafi.com/indexing/index/nukzx brings together companies across these stages and others to provide exposure to the capabilities needed to make the nuclear renaissance possible.
Within the U.S. fuel chain, Solstice Advanced Materials (SOLS) converts uranium into material suitable for enrichment, while Centrus Energy (LEU) is expanding domestic enrichment capacity. Centrus’s expanded supply agreement connects South Korean fuel demand with that American expansion. Separately, America’s Export-Import Bank letters of interest for up to $4.2 billion in potential financing for Japanese and Korean purchases from privately held General Matter illustrate how allied demand could support additional U.S. fuel production.
NUKZX’s international constituents offer additional exposure to reactor technology and construction. Japan’s Hitachi (6501.T) contributes through its nuclear partnerships with GE Vernova (GEV), Mitsubishi Heavy Industries (7011.T) manufactures nuclear plant equipment, and South Korea’s Samsung C&T (028260.KS) brings nuclear engineering, procurement, and construction expertise.
Collectively, NUKZX constituents span fuel preparation, equipment manufacturing, construction, reactor development, and electricity generation, offering multiple avenues to participate as nuclear investment advances. That breadth supports the case for NUKZX, which serves as the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ ).
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