South Korea Unveils $350 Billion U.S. Energy Investment Plan
South Korea reveals major energy projects in the U.S., including a $22.3B Texas plant and Alaska LNG plans, as part of a $350B investment deal.
POLICY WIRE — Seoul, South Korea — South Korea has officially announced detailed plans for three significant energy projects in the United States, as part of a broader $350 billion investment initiative aimed at securing favorable trade terms with Washington.
The initiatives include a $22.3 billion gas-fired power plant in Encinal, Texas, which will supply electricity to artificial intelligence data centers. Commercial operations are expected to begin in 2029, according to the South Korean government.
Additionally, Seoul has committed to investing $120 billion to construct eight nuclear reactors in the U.S., including two based on its APR-1400 design. A separate proposal for an Alaska liquefied natural gas (LNG) export terminal and pipeline system is also under review, pending commercial and legal approvals. The agreement includes a cap of $20 billion in annual investments, with profits shared equally between the U.S. and South Korea until the latter recovers its initial capital across all projects.
Reporting by Policy-Wire (PW)
