Chairman Lee Jae-yong of Samsung Electronics and Chairman Bill Gates of the Gates Foundation meet at Samsung Electronics' Seocho building in Seoul. [Provided by Samsung Electronics. Reproduction and redistribution prohibited]

Lee Jae-yong, Chairman of Samsung Electronics, met with Bill Gates, Co-chair of the Bill & Melinda Gates Foundation, to discuss cooperation for global social contribution.

Additionally, there were meetings between the heads of major Korean conglomerates and Chairman Gates, including Chey Tae-won, Chairman of SK Group, who discussed cooperation in small modular reactors (SMRs) and vaccines, and Chung Ki-sun, Executive Vice Chairman of HD Hyundai, who discussed the commercialization of sodium reactors.

According to industry sources on the 22nd, Chairman Lee met with Chairman Gates at Samsung Electronics' Seocho building in Gangnam-gu, Seoul.

The two had lunch and discussed ways to cooperate on corporate social responsibility (CSR) for global companies.

Previously, Samsung Electronics had participated in the 'RT (Reinvent the Toilet) Project,' a groundbreaking sanitation toilet distribution project initiated by the Gates Foundation in 2011 for developing countries.

The Gates Foundation, facing difficulties in developing household RTs, requested support from Samsung Electronics in 2018. Samsung successfully completed the project after three years of research and development.

It is known that Chairman Lee directly oversaw the project, exchanging opinions with Chairman Gates via email, phone, and video conferences even during the COVID-19 pandemic when in-person meetings were challenging, and provided unwavering interest and support.

Subsequently, in August 2022, he met with Chairman Gates during his visit to Korea to share the development results of the RT project and exchange views on global social contribution activities.

At that time, Chairman Lee expressed his intention to contribute to solving global challenges with Samsung's technology, and Chairman Gates reportedly expressed his gratitude for Samsung's dedicated efforts in the RT project.

Chairman Lee Jae-yong of Samsung Electronics and Chairman Bill Gates of the Gates Foundation meet at Samsung Electronics' Seocho building in Seoul. [Provided by Samsung Electronics. Reproduction and redistribution prohibited]

The previous day, Chairman Chey Tae-won had a dinner meeting with Chairman Gates at SK Seorin Building in Jongno-gu, Seoul. They discussed strategic cooperation plans for the development and commercialization of SMRs by TerraPower, in which SK is the second-largest shareholder, as well as the expansion of their vaccine collaboration, which has been ongoing for over a decade.

Chairman Gates founded the SMR company TerraPower in 2008 and serves as its chairman of the board.

Chairman Chey stated, "I believe Korea and SK can play a significant role in the commercialization of TerraPower's SMRs. Let us work together to enhance market acceptance based on the safety, efficiency, and environmental friendliness of SMRs."

Chairman Gates commented, "The establishment of a regulatory framework and the construction of a supply chain by the Korean government are crucial for the rapid demonstration and widespread adoption of next-generation SMRs. In this case, I believe SK and TerraPower can lead the global market in the future."

Chairman Chey Tae-won meets with Chairman Bill Gates. (Seoul=Yonhap News) Chey Tae-won, Chairman of SK Group, and Bill Gates, Co-chair of the Bill & Melinda Gates Foundation, shake hands at SK Seorin Building in Jongno-gu, Seoul on August 21st. 2025.8.22 [Provided by SK SUPEX Pursuit Council. Reproduction and redistribution prohibited] photo@yna.co.kr

The SK Group and the Gates Foundation continued their discussions on cooperation through a series of meetings held earlier that morning at the Conrad Hotel in Yeouido, Seoul.

In attendance for the SK Group at a meeting with Minister of Trade, Industry and Energy Kim Jeong-kwan and Chairman Gates to discuss the establishment of a Korea-style SMR ecosystem based on US-Korea cooperation were Lee Hyung-hee, Chairman of the SK SUPEX Pursuit Council's Communications Committee, and Kim Moo-hwan, Head of SK Innovation's Energy Solution Business Division.

During this meeting, the SK Group and TerraPower explained their SMR investment and technology development plans, as well as the progress of their commercial reactor development project in collaboration with Korea Hydro & Nuclear Power.

The sodium (Natrium) SMR being developed by TerraPower is a fourth-generation small modular reactor (SMR) characterized by high safety, including commercial operation and off-grid air cooling capabilities, and flexible output control through integration with thermal energy storage systems.

It is evaluated as the safest and most technologically advanced among existing SMRs, producing 40% less nuclear waste compared to conventional reactors and exhibiting high compatibility with renewable energy.

The SK Group requested incentives for private sector participation, strengthening of government-level global partnerships, and the introduction of advanced systems from the Ministry of Trade, Industry and Energy to secure a leading position in the global SMR market, which is projected to grow to hundreds of trillions of won by 2040.

Executive Vice Chairman Chung Ki-sun met with Bill Gates in March. [Provided by HD Hyundai. Reproduction and redistribution prohibited]

Chung Ki-sun, Executive Vice Chairman of HD Hyundai, another domestic cooperation partner of TerraPower, also met with Chairman Gates on the same day.

Executive Vice Chairman Chung and Chairman Gates, along with TerraPower executives, reviewed the progress of expanding the supply chain and commercialization of sodium reactors and discussed future cooperation plans.

This meeting between Executive Vice Chairman Chung Ki-sun and Chairman Gates was the first in five months since their meeting in the United States in March.

At that time, HD Hyundai and TerraPower signed a Memorandum of Understanding (MOU) for the expansion of the manufacturing supply chain for the commercialization of sodium reactors.

HD Hyundai plans to supply reactor vessels, a key component of sodium reactors, to TerraPower, leveraging its technological expertise in the SMR field.

Through the previously signed MOU, both companies are also jointly exploring ways to expand the supply chain to support the global commercialization of sodium reactors.

Executive Vice Chairman Chung stated, "Next-generation SMR technology is a key solution for realizing a sustainable future energy. Our cooperation will serve as a catalyst for building a global nuclear power supply chain and accelerating the energy paradigm shift."

HD Hyundai is also accelerating the development of propulsion ships using SMRs, including initiating cooperation with TerraPower on the development of molten salt reactor technology applicable to the shipbuilding sector. Yonhap News