S. Korea Picks Texas Power Plant as 1st U.S. Investment Project
- On Tuesday, South Korea selected a gas-fired power plant in Encinal, Texas, as its first project under a $350 billion U.S. investment pledge, Industry Minister Kim Jung-kwan briefed the National Assembly.
- The $350 billion package comprises $200 billion for strategic investments and $150 billion for shipbuilding, aimed at securing lower tariffs on South Korean goods under a trade deal agreed last year.
- Valued at about $22.3 billion, the Encinal facility will generate 6.3 gigawatts of power to supply artificial intelligence data centers and chip factories in Texas.
- Seoul is also discussing a 5 to 10% stake in Westinghouse and two South Korean-designed APR1400 nuclear reactors, though President Lee Jae Myung noted on Friday that commercial viability remains a sticking point.
- Opposition lawmakers have demanded parliamentary scrutiny over financial risks, while President Donald Trump previously threatened higher tariffs over implementation pace, creating pressure on Seoul to accelerate project finalization.
23 Articles
23 Articles
S. Korea picks Texas power plant as 1st U.S. investment project
South Korea has chosen the construction of a large-scale gas-fired power plant in Texas as its first investment project under its US$350 billion investment commitment to the United States, sources said Tuesday.
$350B investment pledge in US economy was made after Trump administration imposed tariffs on South Korean imports
Korea has decided to pursue one U.S. investment project and drawn up implementation plans for two others as Seoul and Washington continue to finalize details of their investment agreement. Industry Minister Kim Jung-kwan briefed the National Assembly's Trade, Industry, Energy, SMEs and Startups Committee on the projects Tuesday, saying the government had approved one for pursuit after reviews by the project management committee, chaired by the i…
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