▲ President Donald Trump and President Lee Jae-myung
The South Korean government is nearing an agreement on its first major investment project in the United States following a pact reached last year, with plans to invest more than 100 billion dollars (approximately 134.1 trillion won) in the energy sector, including eight nuclear power plants and natural gas projects, the Wall Street Journal (WSJ) reported on the 10th (local time).
Citing multiple sources, the WSJ reported that an announcement could be made as early as next week.
According to the sources, the deal is tentatively expected to exceed 100 billion dollars in scale and is known to include projects such as the construction of up to eight nuclear power plants in the United States and natural gas projects.
The sources added that South Korea and the United States are in the final stages of discussing these measures and an announcement could come as early as next week.
However, as negotiations are still ongoing, details and the timing of the announcement are subject to change, the WSJ reported.
The sources said that the locations and schedules for the nuclear power plant construction have not yet been finalized, but they could be built on U.S. government-owned land.
According to the sources, South Korea's investment in the nuclear sector will amount to tens of billions of dollars, with the possibility of exceeding 100 billion dollars.
The sources stated that the investment in the natural gas project is around 20 billion dollars, which is related to a natural gas power plant to be built in Texas.
Last year, in exchange for the United States lowering proposed tariffs on South Korean products from 25% to 15%, South Korea pledged a total of 350 billion dollars in investment in the U.S. along with the purchase of 100 billion dollars worth of U.S. energy over the next four years.
(Photo provided by joint press corps, Yonhap News)
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