South Korea considers $120 billion investment in United States nuclear reactors as part of a broader trade deal.
The Korean government is reviewing a proposal from Washington to invest $120 billion of its U.S. investment package into eight nuclear reactors in the United States. This proposal is part of a $350 billion investment package initially agreed upon to limit tariffs.
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Of the first four reactors, South Korea would build two and the United States would construct the two remaining reactors. Washington initially requested 10 reactors built by the U.S. nuclear company Westinghouse, while South Korea requested the use of its independently developed APR1400 model. The current proposal serves as a compromise where South Korea would export its reactors to the United States. The Ministry of Trade, Industry and Resources briefed the ruling Democratic Party on the proposal during a closed-door meeting. The government is considering a memorandum of understanding as early as September 18. This investment would account for almost 60 percent of the promised $200 billion in cash investment. Other projects include a $22.3 billion combined-cycle gas power project in Texas and the development of Alaska liquefied natural gas. The ministry stated that the U.S. pressure for investment would not negatively affect the semiconductor megaproject in the Honam region of Korea.
Sources
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Korea weighs $120 billion investment in 8 nuclear reactors in U.S. as part of tariff deal
Korea JoongAng Daily
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