FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[X] Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

IBK Securities Co., Ltd.
2. Issuer Name and Ticker or Trading Symbol

NUSCALE POWER Corp [SMR]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    __X__ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

11 GUKJEGEUMYUNG-RO 6-GIL,  YEONGDEUNGPO-GU
3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2022 
(Street)

SEOUL, M5 07330
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed(MM/DD/YYYY)
 
6. Individual or Joint/Group Filing(Check Applicable Line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date2A. Deemed Execution Date, if any3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount(A) or (D)Price
Class A Common Stock 7/20/2022  S4 83860 D$11.2990 200000 D (1)(12) 
Class A Common Stock 8/8/2022  S4 7000 D$15.1193 193000 D (1)(12) 
Class A Common Stock 8/9/2022  S4 28000 D$14.9677 165000 D (1)(12) 
Class A Common Stock 8/24/2022  S4 15000 D$15.3827 150000 D (1)(12) 
Class A Common Stock 8/25/2022  S4 10000 D$15.2736 140000 D (1)(12) 
Class A Common Stock 8/26/2022  S4 2411 D$14.8892 137589 D (1)(12) 
Class A Common Stock 9/6/2022  S4 37589 D$14.4281 100000 D (1)(12) 
Class A Common Stock 9/26/2022  S4 13824 D$12.3823 86176 D (1)(12) 
Class A Common Stock 10/5/2022  S4 43000 D$11.6637 43176 D (1)(12) 
Class A Common Stock 10/6/2022  S4 43176 D$11.5271 0 D (1)(12) 
Class A Common Stock 8/26/2022  C4 372420 A (2)372420 I (3)Next Tech 2 New Technology Investment Fund. See Footnote (3)(12)
Class A Common Stock 12/7/2022  S4 35000 D$10.8764 337420 I (3)Next Tech 2 New Technology Investment Fund. See Footnote (3)(12)
Class A Common Stock 12/8/2022  S4 35000 D$10.9717 302420 I (3)Next Tech 2 New Technology Investment Fund. See Footnote (3)(12)
Class A Common Stock 11/16/2022  C4 4241765 A (4)4241765 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 11/28/2022  S4 52489 D$11.0192 (6)4189276 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 11/29/2022  S4 50000 D$10.7702 4139276 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 11/30/2022  S4 53376 D$10.8402 (7)4085900 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 12/1/2022  S4 50000 D$10.9201 4035900 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 12/2/2022  S4 71927 D$10.9719 (8)3963973 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 12/5/2022  S4 50000 D$10.9435 3913973 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 12/6/2022  S4 51329 D$10.8810 (9)3862644 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 12/7/2022  S4 96659 D$10.8931 (10)3765985 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)
Class A Common Stock 12/8/2022  S4 88198 D$10.9752 (11)3677787 I (5)Next Tech 1 New Technology Investment Fund. See Footnote (5)(12)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YYYY)
7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B Common Stock  8/26/2022  C4    372420   (2) (2)Class A Common Stock 372420  (2)0 I (3)See Footnote (3)(12)
Class B Common Stock  11/16/2022  C4    4241765   (4) (4)Class A Common Stock 4241765  (4)0 I (5)See Footnote (5)(12)

Explanation of Responses:
(1) The reported securities of the Issuer were directly held by IBK Securities Co., Ltd. ("IBKS").
(2) Reflects the exchange of 372,420 shares of Class B common stock, par value $0.0001 per share ("Class B Common Stock"), of the Issuer, each paired with one Class B Unit of NuScale Power, LLC, for 372,420 shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock"), of the Issuer.
(3) The reported securities were directly held by Next Tech 2 New Technology Investment Fund ("Next Tech 2"). IBKS is, together with BH Investment and Liberty Ltd. ("BHI"), a co-general partner of Next Tech 2. IBKS disclaims any beneficial ownership of the securities held by NextTech 2, other than to the extent of any pecuniary interest it may have therein, directly or indirectly.
(4) Reflects the exchange of 4,241,765 shares of Class B common stock, par value $0.0001 per share ("Class B Common Stock"), of the Issuer, each paired with one Class B Unit of NuScale Power, LLC, for 4,241,765 shares of Class A Common Stock.
(5) The reported securities were, or are, directly held by Next Tech 1 New Technology Investment Fund ("Next Tech 1"). IBKS is, together with BH Investment and Liberty Ltd. ("BHI"), a co-general partner of Next Tech 1. IBKS disclaims any beneficial ownership of the securities held by NextTech 1, other than to the extent of any pecuniary interest it may have therein, directly or indirectly.
(6) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.0069 to $11.2400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
(7) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.8380 to $10.9100, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
(8) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.8200 to $11.1200, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
(9) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.8789 to $11.0000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
(10) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.8400 to $11.0400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
(11) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.9200 to $11.0700, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
(12) Industrial Bank of Korea ("IBK"), as the controlling person of IBKS, and the Republic of Korea Ministry of Economy and Finance ("MOEF"), as the controlling person of IBK, are deemed to be indirect beneficial owners of the shares of Class A Common Stock owned by IBKS, Next Tech 1 and Next Tech 2 and the shares of Class B Common Stock owned by NuScale Korea. IBK and MOEF disclaim any beneficial ownership of the securities held by IBKS, Next Tech 1, Next Tech 2, and NuScale Korea, other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
IBK Securities Co., Ltd.
11 GUKJEGEUMYUNG-RO 6-GIL
YEONGDEUNGPO-GU
SEOUL, M5 07330

X


Signatures
/s/ Chan Geol Moon2/13/2023
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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