Close gaps in Korea-US relations

Despite Seoul's pledge of $350 billion to the U.S., relations between Korea and the United States remain tense. Both sides struggle to reach a clear and transparent agreement, which hinders their potential gains. Korea is set to announce its first project under the investment pledge before the upcoming Chuseok holiday, although the announcement was delayed due to commercial viability concerns and ongoing discussions over controversial provisions.

President Lee Jae Myung has considered supporting the restoration of free passage through the Strait of Hormuz, but the U.S. side appears opposed to several of Korea's suggestions.

A significant point of contention is the proposed $22.3 billion Encinal natural gas-fired combined-cycle power plant in Texas, which has emerged as a leading candidate for the first project. Other controversial elements include the construction of eight nuclear reactors in the U.S., with Korea aiming to secure a stake in Westinghouse, a move that the U.S. side seems to oppose. Among the eight nuclear reactors, Seoul hopes to secure two.