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 also 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…
South Korea's ambitious $350 billion investment plan in the United States is gaining momentum, with plans to build a gas project in Texas as the first step. Seoul is also considering the construction of eight nuclear reactors and participation in a liquefied natural gas (LNG) pipeline project in Alaska, despite uncertainties regarding the feasibility of these initiatives.
Washington has expressed increasing concerns about Seoul's slow progress on the pledged investment, but the advancements made thus far are expected to bolster cooperation between the two allies. The $350 billion investment was agreed upon last October, as part of an agreement that maintained Korea's flat tariff of 15 percent instead of the threatened increase to 25 percent.
The investment blueprint aims to meet U.S. demands for electricity in the age of artificial intelligence, while also providing a platform for Korean nuclear power-related technology to expand into global markets. A significant portion of the investment, estimated at $22.3 billion, is allocated to the Texas gas project.
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
