American billionaire and TerraPower founder and Chairman Bill Gates arrived in South Korea on Thursday evening, where he will meet with local political and business leaders to discuss collaboration on small modular reactors (SMRs) and other areas.

According to sources familiar with the matter, Gates landed at Gimpo International Airport in western Seoul via private jet at approximately 9:20 p.m. local time on Thursday, marking exactly one year since his last visit to the country.

During his visit to South Korea, Gates plans to hold multiple meetings with key political and business figures to explore expanding cooperation on small modular reactors (SMRs) and other initiatives. Gates is expected to meet with South Korean Prime Minister Han Duck-soo on Friday and will also hold talks with several business leaders, including SK Group Chairman Chey Tae-won and HD Hyundai Group Chairman Chung Ki-sun.

TerraPower, founded by Gates in 2006, is dedicated to developing safer, more efficient, and cost-effective nuclear reactors to meet the growing demands of the power grid driven by advancements in artificial intelligence (AI) technology, providing reliable clean energy. South Korea's SK Group is a major shareholder in TerraPower, having invested $250 million in the company. HD Hyundai Group is also deepening its cooperation with TerraPower in the field of small modular reactors.

TerraPower's sodium-cooled fast reactor is considered one of the most advanced small modular reactors currently under development. They offer higher thermal efficiency and enhanced safety, producing about 40% less nuclear waste compared to traditional reactors. In March of this year, TerraPower received approval from the U.S. Nuclear Regulatory Commission to build a small modular reactor plant in Wyoming, offering hope for the commercialization of next-generation reactors.