Korea's US investment takes shape
The first step in Korea's planned $350 billion investment in the United States appears to be a gas project in Texas, as Seoul considers building eight nuclear reactors and taking part in a liquefied natural gas (LNG) pipeline project in Alaska, despite questions remaining about its feasibility. As Washington has been increasingly critical of Seoul for allegedly dragging its feet on the pledged…
Korea has unveiled plans to invest $350 billion in the United States, with the first step reportedly a gas project in Texas. Seoul is considering building eight nuclear reactors and participating in a liquefied natural gas (LNG) pipeline project in Alaska, despite doubts about the feasibility of these ventures. Washington has criticized Seoul for allegedly lagging on the pledged investment, but the progress made so far is seen as providing momentum to the investment and further cooperation between the two allies.
The $350 billion commitment was agreed to in October as part of an agreement that maintained Korea's flat tariff at 15 percent, avoiding a threatened increase to 25 percent. By focusing on gas and nuclear power plants, Korea's investment plan aims to meet U.S. demands for electricity in the age of artificial intelligence, while also offering a platform for Korean nuclear power plant-related technology to expand globally.
The Texas gas project is estimated to cost $22.3 billion, with plans for the eight nuclear reactors and the Alaska LNG pipeline totaling the remaining $327.7 billion.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Korea's US investment takes shape koreatimes.co.kr
