South Korea Pledges Billions for Texas Gas Project Amid Trade Pact

South Korea and the United States have reached an understanding on Seoul's planned investment in a Texas gas project, worth around $22.3 billion, under their trade agreement signed last year.

The deal involves developing a 6.3-gigawatt gas-fired power plant in Encinal, Texas, to address growing electricity demand from AI data centers.

South Korea committed to investing $350 billion in the US through loans, loan guarantees, and equity investments as part of their trade pact, with some funds potentially directed toward a nuclear power project or Alaska LNG.

The Industry Ministry said reports about the Texas gas project were inaccurate and that discussions between Seoul and Washington remain ongoing, making specific details difficult to confirm.