THE South Korean government is preparing to announce a major energy investment project in the United States worth more than US$100 billion aimed at boosting artificial intelligence build-out, the Wall Street Journal reported on Thursday.
The deal would see South Korea financing the construction of up to eight nuclear power plants and a natural gas project, the report said, citing people familiar with the matter.
South Korea's trade ministry said details regarding investment in the U.S. have not been finalized. The U.S. Commerce Department and the White House did not immediately respond to requests for comment sent outside regular business hours.
U.S. President Donald Trump and South Korea's President Lee Jae Myung reached a trade deal last October that saw South Korea commit US$350 billion worth of investments to U.S. manufacturing in return for Washington capping tariffs on Korean imports at 15%.
Seoul has since faced delays in implementing the trade deal, however, leading Trump to threaten the country with a tariff hike earlier this year.
According to the Wall Street Journal report, the investments from South Korea are expected to unfold over a number of years.
The deal involves the construction of up to eight nuclear reactors in the U.S., the first of which would use American firm Westinghouse Electric’s design, the report said. Some subsequent reactors could use designs from South Korea's KEPCO.
Another potential investment, at roughly US$20 billion, is tied to a natural-gas power plant in Texas, which would power AI data centers, WSJ said.
