Seoul is also negotiating a 5% to 10% stake in Westinghouse and the construction of two nuclear reactors based on Korean designs, as well as an Alaska LNG project. Government officials stated that the investment package will not include semiconductor manufacturing. President Trump will make the final decision on the plans, and funds must be transferred within 45 days if requested by the US.
Tuesday, October 20, 2026
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South Korea Picks $22.3B Texas Gas Plant for First Project in $350B US Deal
Business28 days ago
President Lee and US President Trump reported major progress on strategic investment talks during a 30 minute meeting on the sidelines of the UN General Assembly. South Korea has identified a gas-fired power plant in Encinal, Texas, as the initial focus of a $350 billion commitment to the United States. The facility, requiring a $22.3 billion investment, will be shared 50-50 in ownership between the two nations to support energy demand for artificial intelligence data centers and semiconductor plants.
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