South Korea Makes First Investment In US After New Trade Deal
The Real News Feed homepage has 60 new headlines every 24 hours - click here to see it.
Donald Trump’s trade agenda is already producing major investment commitments.
The United States and South Korea have reached a deal on a massive planned investment in a Texas natural gas project.
The investment is expected to total roughly $22.3 billion.
South Korea and the United States have agreed on the size of Seoul’s planned investment in a gas project in Texas at around $22.3 billion, Korean media outlet Edaily reported on Monday, citing unidentified officials and politicians.
The project, which would be Seoul’s first U.S. investment under last year’s trade agreement, aims to build a 6.3-gigawatt gas plant in Encinal, Texas, to meet rising power demand for AI data centers, according to the media reports.
The investment would be part of the trade deal signed by the two allies last year, under which Seoul pledged $350 billion worth of U.S. investments in exchange for favorable U.S. tariffs on imports of South Korean goods.
More projects are also being considered.
Seoul is also considering other potential projects in the United States, including building a large-scale nuclear power plant or a liquefied natural gas project in Alaska, the reports said.
South Korea’s Industry Ministry said reports on the Texas gas project were inaccurate and that consultations between Seoul and Washington were continuing, making it difficult to confirm specific details.
Make America Great Again!
