Korea decides on 1st US investment project, draws up plans for 2 others

Korea decides on 1st US investment project, draws up plans for 2 others

The project is widely believed to be the Encinal natural gas-fired combined-cycle power plant in Texas, on which Seoul and Washington are thought to have narrowed their differences.

The project involves about $22.3 billion in investment to build 6.3 gigawatts of power generation capacity in Texas, where electricity demand is rising with the expansion of artificial intelligence data centers and semiconductor facilities.

The two projects could be the Alaska liquefied natural gas (LNG) project and a U.S. nuclear power investment, according to market and government sources, although no final decisions have been made.

Both projects remain subject to negotiations over commercial viability and investment terms. Reuters reported that Seoul and Washington have also discussed building up to eight nuclear reactors in the United States and a potential minority stake in Westinghouse, while the Alaska LNG project is also under review as a potential investment.

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