South Korea confirms first project under $350 billion U.S. investment pact despite viability concerns
U.S. President Donald Trump had voiced criticism over the project's pace of implementation.
Seoul has announced the first project to benefit from a $350 billion U.S. investment pact, despite concerns about its financial viability and criticism from U.S. President Donald Trump regarding the pace of implementation. The South Korean government has chosen a gas-fired power plant project in Texas as the inaugural recipient of the funds.
Additionally, the nation is exploring investments in two nuclear reactors designed by South Korean engineers, as part of a larger nuclear investment strategy. This news came to light during a closed-door meeting between Industry Minister Kim Jung-kwan and lawmakers, as both South Korea and the United States work towards finalizing the implementation of a trade deal they reached in November of the previous year. This agreement reduced U.S. tariffs on South Korean goods to 15%.
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