Korea-US Agree to Pursue Eight Large Nuclear Reactors
The governments of South Korea and the United States are set to sign an agreement on Korean investment in the US, which will pave the way for the construction of eight large nuclear reactors. The reactors are expected to cost around $15 billion each, with a total value exceeding $120 billion. This is part of the $200 billion investment pledge made by South Korea.
The first project under this package will be a liquefied natural gas combined-cycle power plant in Encinal, Texas. Negotiations for this project have been completed, and an investment special purpose vehicle (I-SPV) will be established to oversee funding. The agreement will state the intention to pursue the plan for eight nuclear reactors but will not provide details.
The government plans to share the contents of a closed-door briefing with opposition parties before reporting to the National Assembly. Domestic procedures are expected to be complete once the briefing is finished.