South Korea nears agreement on over US$100bil in US investments
The deal would see South Korea finance the construction of up to eight nuclear power plants and a natural gas project.
SEOUL: South Korea is on the verge of confirming a significant energy investment project in the United States worth over US$100 billion, according to a report by the Wall Street Journal. The agreement, which is anticipated to be implemented over several years, entails financing the construction of up to eight nuclear power plants and a natural gas project aimed at advancing artificial intelligence (AI) development.
The report, citing sources familiar with the matter, reveals that the investment would involve the first nuclear reactor utilizing Westinghouse Electric’s design, with subsequent reactors potentially following a South Korean design from KEPCO. Additionally, a separate investment of around US$20 billion is planned for a natural-gas powered AI data center project in Texas.
The South Korean trade ministry has not yet finalized the specifics of the US investment. Meanwhile, the US Commerce Department and the White House have not yet commented on the matter. The previous trade deal reached in October last year, which saw South Korea commit US$350 billion worth of investments to US manufacturing in exchange for capping tariffs on Korean imports at 15%, has faced delays in implementation.
This delay led to threats from US President Donald Trump to impose a tariff hike on South Korea earlier this year.
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- South Korea nears agreement on over US$100bil in US investments freemalaysiatoday.com
