Texas Gas Power Facility Selected as South Korea's First Pledged U.S. Investment

Deep News
Sep 22

According to unnamed political sources, South Korea has designated a natural gas-fired power project in Texas as the initial venture under its framework of commitments to invest in the United States. Furthermore, the South Korean government is evaluating the construction of eight nuclear power plants and an Alaska liquefied natural gas (LNG) development as the two subsequent investment projects for the U.S.

Seoul and Washington are also in discussions regarding a plan for South Korea to acquire a 5% to 10% stake in Westinghouse Electric. The South Korean government has stated that its investments in the U.S. will not surpass an annual cap of $20 billion under the $350 billion investment commitment framework established in last year's trade agreement between the two nations. Should investments exceed this limit, South Korea will refrain from advancing such projects.

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