Seoul, Sept. 7 (SANA) South Korean media reported Monday that Seoul and Washington had agreed on a planned investment of about $22.3 billion in a gas-fired power project in Texas, but South Korea’s Industry Ministry said consultations were still underway and specific details could not yet be confirmed.
The reports, cited by Reuters and based on unnamed officials and politicians, said the project would be South Korea’s first investment in the United States under the trade agreement reached between the two countries last year.
The project would involve building a 6.3-gigawatt gas-fired power plant in Encinal, Texas, to meet growing electricity demand from artificial intelligence data centers.
The proposed investment would form part of the bilateral trade agreement under which Seoul pledged $350 billion in investments in the United States in exchange for preferential U.S. tariff terms on imports of South Korean goods.
The reports did not specify whether Seoul would cover the full cost of the Texas project.
South Korea’s Industry Ministry, however, said reports about the Texas gas project were inaccurate and that consultations between Seoul and Washington were continuing, making it difficult to confirm specific details at this stage.
The ministry said the government would make an announcement after completing negotiations with the United States and taking into account relevant procedures, including parliamentary approval.
The media reports also said Seoul was considering other potential projects in the United States, including the construction of a large-scale nuclear power plant and a liquefied natural gas project in Alaska.
In a separate statement, the Industry Ministry said no decision had been made on building a nuclear power plant in the United States.
In May, Seoul and Washington discussed establishing strategic investment projects in the energy and shipbuilding sectors as part of implementing South Korea’s investment commitments in the United States and expanding bilateral industrial and energy cooperation.
T.S / M.F
