South Korea Nears $100 Billion US Energy Investment Deal

The government of South Korea is nearing the announcement of an energy investment project in the United States valued at over $100 billion. The proposed deal includes financing the construction of up to eight nuclear power plants and a $20 billion natural-gas power plant in Texas specifically designed to power artificial intelligence data centers.

This initiative fulfills obligations from a broader trade pact reached last October between President Donald Trump and President Lee Jae Myung. Under that agreement, the United States capped tariffs on South Korean imports, including automobiles, at 15% in exchange for $350 billion in manufacturing investments and $100 billion in energy purchases.

The nuclear projects are expected to utilize a phased design approach, starting with reactors from the American firm Westinghouse Electric and potentially moving to designs from the Korea Electric Power Corporation for subsequent plants. While the Wall Street Journal suggests an announcement could occur as early as next week, South Korea's trade ministry stated that investment details have not yet been finalized. Sources indicate an initial seed payment of over $2 billion could be made by the end of September.