Why Korea's industrial giants want a piece of Westinghouse

SK Group, Samsung C&T, Hyundai Engineering & Construction and Doosan Enerbility are reviewing a strategic investor consortium for Westinghouse Electric. SK is expected to contribute the largest share. The companies have not made final decisions, but they see a chance to build a stronger position in the US nuclear market.

Their possible roles cover much of the supply chain. Samsung C&T and Hyundai E&C could pursue engineering, procurement and construction work. Doosan Enerbility could supply major components, including reactor vessels and steam generators. SK would gain exposure to large nuclear generation alongside its existing small modular reactor investments.

The opportunity is tied to a proposed US plan involving eight large reactors. Six are expected to use Westinghouse's AP1000 design, while two would use Korea's APR1400 technology. A Westinghouse stake could improve negotiating leverage, but it would not guarantee any company a contract.

Westinghouse Electric is the US nuclear power company at the center of the proposed Korean investment. The company is linked to the AP1000 reactor design, which six of eight proposed US reactors are expected to use. Its position could grow as Washington seeks a major expansion of nuclear generating capacity.

Buying a stake means purchasing part ownership of Westinghouse. The South Korean public-private consortium could acquire 5 to 10 percent if Westinghouse goes public. The option includes a 10 percent discount to the offering price. At a possible $30 billion valuation, a 10 percent stake would cost about $2.7 billion after the discount.

Ownership could give Korean companies greater influence in future negotiations. It could help them build a closer partnership and gain a lasting role in the nuclear supply chain. However, shareholders would not automatically receive construction or equipment contracts.

Investment bankers estimate that Westinghouse could be valued as high as $30 billion in a potential initial public offering. Under the agreed discount, a 10 percent stake would cost approximately $2.7 billion. That amount would be a major commitment, even for South Korea's largest industrial groups.

The possible ownership is connected to a broader Seoul-Washington investment agreement. Up to $120 billion of a planned $200 billion US investment fund could go toward eight large nuclear reactors. Six are expected to use Westinghouse's AP1000 design. The other two would use Korea's APR1400 technology.

The figures remain potential rather than final commitments. Korea Electric Power Corp. and Korea Hydro & Nuclear Power are expected to make only limited, largely symbolic investments because of heavy debt burdens. Private companies would therefore provide most of the funding if the plan advances.

Equity ownership does not automatically entitle Korean companies to participate in Westinghouse projects. This is the central risk behind the proposed investment. Companies could spend billions before knowing whether the ownership would produce enough commercial work or how quickly returns would arrive.

The possible benefit is stronger influence. Becoming a shareholder could help Korean companies revisit settlement and other agreements with Westinghouse in future negotiations. It could also deepen their partnership and support a more lasting role in the global nuclear supply chain.

The current position remains uncertain. KAIST professor Choi Sung-min said Korean companies are attractive partners, but Westinghouse is not guaranteed to work exclusively with them. The companies are still reviewing options, and officials emphasized that negotiations have not been finalized. Any contracts would depend on separate commercial decisions.

The US nuclear market is expanding because electricity demand is rising. The article highlights AI data centers as an important source of that demand. These facilities are helping drive interest in reliable, large-scale generation, including nuclear power.

Washington has set an especially ambitious target. In a May 2025 executive order, President Donald Trump called for US nuclear generating capacity to quadruple from roughly 100 gigawatts to 400 GW by 2050. That would mean adding about 300 GW of capacity.

This target creates a much larger opportunity than the initial eight-reactor plan. The proposed increase equals the capacity of approximately 210 Korean-designed APR1400 reactors, each rated at 1.4 GW. For Korean companies, closer ties with Westinghouse could provide access to future US projects, although no contracts are guaranteed.

AP1000 and APR1400 are the two reactor technologies named in the proposed US program. Six of the eight reactors are expected to use Westinghouse's AP1000 design. Two would use Korea's APR1400 technology, marking the first deployment of Korean-designed reactors in the United States.

Different Korean companies could take different roles. Samsung C&T and Hyundai Engineering & Construction could seek engineering, procurement and construction contracts. Doosan Enerbility could supply major equipment, such as reactor vessels and steam generators. The work could therefore spread across design execution, construction and manufacturing.

The proposed investment is intended to strengthen access to this opportunity. A Westinghouse stake could give Korean companies greater negotiating leverage and a closer partnership. Still, ownership would not guarantee contracts, and each company must judge whether the commercial opportunity justifies its investment.

In a nuclear power plant, energy released in the reactor heats water or another working fluid. The heat produces steam, and the steam spins a turbine connected to an electricity generator. The article does not explain this process, so this basic description uses established general knowledge.

A plant needs far more than a reactor design. Engineers plan the facility and its systems. Construction companies build the structures and install equipment. Manufacturers produce specialized parts, including reactor vessels and steam generators. These activities must fit together before the plant can generate electricity.

The article shows this division through the Korean companies' possible roles. Samsung C&T and Hyundai E&C could pursue engineering, procurement and construction contracts. Doosan Enerbility could supply major components. Their participation would connect design execution, building and equipment manufacturing across one nuclear project.