South Korea Commits $200 Billion to US Energy Projects
South Korea has pledged to invest nearly $200 billion in US energy projects as part of a major deal between the two countries. This investment includes building eight new large nuclear power plants, with a total cost of $120 billion, and a gas-fired power plant in Texas worth over $22 billion.
The largest project is the Alaska liquefied natural gas (LNG) project, which will receive more than $50 billion from South Korean investors. The project aims to tap into Alaska's vast natural resources and establish the US as a global nuclear exporter.
According to Howard Lutnick, US Secretary of Commerce, this investment is made possible by the framework of the trade deal signed between the two countries. He stated that 'none of this would have been possible without the framework of the trade deal we signed and the president, the top U.S. negotiator who delivered that deal.'