South Korea and the U.S. have reached an agreement on a substantial investment of around $22.3 billion for a gas project in Texas. This marks Seoul’s first significant investment in the U.S. following a trade deal established last year, which involves a commitment of $350 billion in U.S. investments in exchange for more favorable tariffs for South Korean imports.
The project focuses on constructing a 6.3-gigawatt gas plant in Encinal, Texas, aimed at addressing the increasing energy demands of AI data centers. While the reports highlighted the investment size, they did not clarify whether South Korea would bear the entire cost of the project.
Additionally, South Korea is exploring further investment opportunities in the U.S., such as a potential nuclear power plant or a liquefied natural gas project in Alaska. However, the South Korean Industry Ministry has stated it cannot currently confirm the specifics of the investment plans.
