WSJ: South Korea Nears Agreement on First US Investment Project Worth $100 Billion in Energy Sector

The South Korean government is nearing an agreement to invest more than 100 billion dollars (approx. 134.1 trillion won) in the energy sector, including eight nuclear power plants and natural gas projects, as the first project under the US investment pact signed with the United States last year, the US daily Wall Street Journal (WSJ) reported on the 10th local time.

Citing multiple sources, the WSJ reported that an announcement could come as early as next week.

According to these sources, the deal is provisionally 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 South Korea-US sides have entered the final stages regarding these measures and an announcement could be made as early as next week, the sources added.

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 are likely to be built on US government-owned land.

The sources added that South Korea's investment in the nuclear sector will reach tens of billions of dollars and has the potential to exceed 100 billion dollars.

The investment scale for the natural gas project is about 20 billion dollars, which is related to a natural gas power plant to be built in the state of Texas, the sources said.

Last year, South Korea promised a total of 350 billion dollars in investments in the US, along with the purchase of 100 billion dollars worth of US energy over the next four years, in exchange for the US lowering the tariffs it intended to impose on South Korean products from 25% to 15%.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.