During the international effort to develop the next generation nuclear reactor technologies, many new power cycle concepts were derived to improve efficiency and reduce the capital cost. Among many innovative power cycles, it was identified that the supercritical C02 (S-C02) Brayton cycle technology has a big potential to outpe1fonn the existing steam cycle and eventually replace it. The S-C02 cycle achieves high efficiency with very compact size, which is the ultimate advantage for a power cycle to have. The S-C02 cycle has a great potential not only for the future nuclear applications but also for general heat sources such as coal, natural gas, and concentrated solar. In this paper, a brief introduction to the S-C02 power cycle technologi es will be first provided, and short summary of current research and development status of the power cycle technology around the world will be followed. Especially the research works performed by KAIST, KAER.I and several related research institutions in Korea will be reviewed in more detail, since they have recently developing a strong infrastructure to test these ideas by constructing a demonstration facility while producing many innovative ideas to improve and realize the concept.