Seoul, Washington in final talks over first U.S. investment project
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Seoul, Washington in final talks over first U.S. investment project
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South Korea's first major U.S. investment project is taking shape but the final deal still hinges on some last-minute questions over the investment structure the returns and risk-sharing.
Our economics correspondent Kim Jun-hong files this report.
Korea's announcement of its first U.S. investment project is facing delays.
The Industry Ministry was expected to brief lawmakers on Thursday about a public announcement as early as Friday.
But the briefing has been postponed as negotiations with Washington continue.
Officials say more time is needed to narrow the remaining differences, adding that Seoul will continue talks with its national interests as a priority.
Industry Minister Kim Jung-kwan said the two sides had come close to agreement on many issues after his recent talks in the U.S.
"We've come close to an agreement on many issues, but there are still points to work out. In any negotiation, it's not over until the final deal is signed."
The project which talks have been focused on is the construction of a natural gas power plant in Encinal, Texas.
The plan calls for a 6-point-3 gigawatt facility to meet growing electricity demand from AI data centers and advanced chip facilities.
Initially estimated to have a budget of 20 billion U.S. dollars, the project is now reportedly being discussed at around 22 billion.
A potential follow-up project is a 120 billion-dollar plan to build eight large nuclear reactors in the U.S.
One key sticking point is Korean investment in U.S. nuclear firm Westinghouse Electric Company, with the two sides reportedly divided over the size of Korea's stake.
Washington is also seeking Korean participation in the 67 billion-dollar Alaska LNG project, which has faced concerns over high costs and logistical challenges.
The delay comes amid reported differences over key terms, including Westinghouse investment and Korea's participation in the Alaska LNG project.
With the parliamentary briefing now pushed back to next week, the MOU signing is also likely to be delayed.
Kim Jun-hong, Arirang News.
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2026-09-17, 17:00 (KST)
South Korea's first major U.S. investment project is taking shape but the final deal still hinges on some last-minute questions over the investment structure the returns and risk-sharing.
Our economics correspondent Kim Jun-hong files this report.
Korea's announcement of its first U.S. investment project is facing delays.
The Industry Ministry was expected to brief lawmakers on Thursday about a public announcement as early as Friday.
But the briefing has been postponed as negotiations with Washington continue.
Officials say more time is needed to narrow the remaining differences, adding that Seoul will continue talks with its national interests as a priority.
Industry Minister Kim Jung-kwan said the two sides had come close to agreement on many issues after his recent talks in the U.S.
"We've come close to an agreement on many issues, but there are still points to work out. In any negotiation, it's not over until the final deal is signed."
The project which talks have been focused on is the construction of a natural gas power plant in Encinal, Texas.
The plan calls for a 6-point-3 gigawatt facility to meet growing electricity demand from AI data centers and advanced chip facilities.
Initially estimated to have a budget of 20 billion U.S. dollars, the project is now reportedly being discussed at around 22 billion.
A potential follow-up project is a 120 billion-dollar plan to build eight large nuclear reactors in the U.S.
One key sticking point is Korean investment in U.S. nuclear firm Westinghouse Electric Company, with the two sides reportedly divided over the size of Korea's stake.
Washington is also seeking Korean participation in the 67 billion-dollar Alaska LNG project, which has faced concerns over high costs and logistical challenges.
The delay comes amid reported differences over key terms, including Westinghouse investment and Korea's participation in the Alaska LNG project.
With the parliamentary briefing now pushed back to next week, the MOU signing is also likely to be delayed.
Kim Jun-hong, Arirang News.
#SouthKorea #UnitedStates #KimJungkwan #Investment #대한민국 #미국 #대미투자 #프로젝트 #김정관 #Arirang_News #아리랑뉴스
📣 Facebook : https://www.facebook.com/arirangtvnews
📣 Youtube : https://www.youtube.com/@ArirangCoKrArirangNEWS
📣 Homepage : https://v2.arirang.com/
2026-09-17, 17:00 (KST)
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