Third Meeting on SMART Project was held in Korea to review the Project activities in connection with Initial Engineering Design of Smart Reactor Project. It is noteworthy that KACARE is developing this project in association with KAERI and other Korean firms specializing in nuclear industry. Companies participating in this strategic project have accordingly reviewed progress and challenges facing the project. Progress so far achieved was also reviewed to ensure project completion on schedule. Hand in hand and shoulder to shoulder with other Korean stakeholders, KACARE is currently laying down engineering designs of the power plant the construction of which will be completed in the Kingdom with a view to produce electricity and desalinated water. It is worth mentioning that KACARE has entered into a partnership with KAERI for the purpose of developing SMART reactors. KACARE is hopeful of enabling localization of nuclear knowledge as well as chain of values. Targeted result is the introduction of the Kingdom as a future developer, owner and exporter of nuclear energy-related technologies.