South Korea is considering a $20 billion energy project in the US

South Korea has selected the first project within the framework of its planned $350 billion investment program in the US. The project in question is a 6.3-gigawatt gas-fired power plant in Texas, valued at over $20 billion.

The project must still receive approval from a special US government investment committee, and negotiations between the parties will continue. South Korea's government is paying particular attention to the financial side of the projects, seeking to ensure that the agreed investments are economically justified.

Seoul is also considering several other projects. These include the construction of two nuclear reactors using South Korean technology in the US, as well as a possible acquisition of a 5% to 10% stake in American company Westinghouse. A decision on participation in the Alaska LNG project has not yet been made.

The $350 billion program is part of the trade agreement between the US and South Korea. As a result of the agreement, US tariffs on South Korean goods were reduced to 15%.

Source: Investing.com