Hyundai E&C is posed to expanding its energy cooperation with Finland, building on its large-scale nuclear power project.

Hyundai E&C said it held a meeting on Friday the 10th at its Gye-dong headquarters in Jongno-gu, Seoul, with a Finnish delegation led by Ville Tavio, Finland’s Minister for Foreign Trade and Development, to explore cooperation in next-generation energy.

The meeting was attended by Hyundai E&C President and CEO Lee Han-woo and other senior executives, along with key Finnish officials including Minister Tavio and Finland’s Ambassador to Korea, Jyri Järviaho.

Also joining the delegation were Finnish energy-sector companies Steady Energy, Oilon, and Elstor. Steady Energy is a developer of small modular reactors (SMRs) for district heating, while Oilon manufactures industrial burners and heat pumps, high-efficiency heating and cooling systems that use electricity to absorb external heat for space heating and hot water. Elstor develops thermal energy storage systems and solutions. Discussions focused on ways to combine Finland’s thermal energy technologies with Hyundai E&C’s EPC (Engineering, Procurement, and Construction) capabilities. 

Finland is among the countries most actively pursuing the energy transition, targeting net zero emissions by 2035 and seeking to expand decarbonization beyond industry, transport, and heat, while also increasing the share of nuclear and renewable energy in the power sector.

Steady Energy’s LDR-50 SMR, currently under development in Helsinki, is a 50 MW-class reactor designed specifically for heat generation rather than electricity production. It is drawing attention as an energy source optimized for district heating and industrial steam supply. Operating at a much lower temperature (approximately 150°C) and pressure (10 bar or under) compared with conventional large nuclear power plants, the LDR-50 offers a high level of safety and excellent economic competitiveness and is particularly well suited for deployment in urban areas and industrial complexes, being considered as a promising alternative to fossil fuels.

In addition, heat pumps utilizing ambient air or geothermal energy are increasingly favored as alternatives to oil-fired and direct electric heating, while power-to-heat energy storage systems, which enable the production of heat or steam using surplus renewable energy, are also emerging as next-generation clean energy solutions driving Finland’s carbon-neutral transition.

A Hyundai E&C official stated, “We believe that the recent visit by Finnish government officials and innovative energy companies will serve as an opportunity to generate practical synergies between Finland’s clean technologies and Hyundai E&C’s business capabilities in areas such as energy and plant projects.” “With recent risks in the Middle East making energy security an even bigger priority for countries around the world, we will strengthen cooperation in next-generation energy infrastructure with minimal carbon emissions and make every effort to expand into global energy markets, including Northern Europe,” the official a𝖽𝖽ed.

Meanwhile, Hyundai E&C has been carrying out Early Works Agreement for a new large-scale nuclear power plant construction project in Finland together with Finland’s state-owned energy company Fortum and U.S.-based Westinghouse since last year. In March of this year, it also held a symposium in Helsinki on new nuclear power plant construction, further accelerating its push into the Nordic energy market, including Finland, by strengthening its network with related companies.