South Korea Denies U.S. Proposal for Westinghouse Stake

The Ministry of Trade, Industry and Resources of South Korea denied reports that the United States government proposed that Seoul acquire a stake in Westinghouse Electric Company. The denial follows a report by the Korea Economic Daily claiming the U.S. sought South Korean capital and construction expertise to expand nuclear power within the United States.

According to the report, the proposal potentially involved a joint special-purpose vehicle to acquire the stake, with Korea Electric Power Corp. as a possible buyer. This transaction would have been funded by a $200 billion Korea-US strategic investment pledge. The South Korean government rejected these claims, stating the report was "not in accordance with the facts."