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BusinessQuiet 3d · day 7

South Korea confirms Texas gas plant as first project in $350bn US investment deal

Seoul's industry ministry tells lawmakers the Encinal, Texas power plant is the first confirmed piece of its pledged $350 billion US investment package, as talks continue over nuclear reactors, a Westinghouse stake and Alaska LNG.

newest coverage 3d agosummary written 3d ago4 pieces NewswiresRedditMastodon

What to know

  • South Korea's industry ministry has confirmed a more-than-6-gigawatt gas power plant in Encinal, Texas as the first specific project under its pledged $350 billion US investment package.
  • The US is pushing for a long-term 90% ownership stake in the Texas plant versus 10% for South Korea, even though Seoul would provide all the funding.
  • Separate talks continue over up to eight US nuclear reactors (six Westinghouse AP1000, two Korean APR1400), a 5-10% Korean stake in Westinghouse, and South Korean participation in the $50 billion Alaska LNG project.
  • Trump is expected to make a final announcement on the package, but it still requires review by a US government investment committee and further negotiation with Commerce Secretary Howard Lutnick.

Donald TrumpDonald Trump US PresidentLee Jae MyungLee Jae Myung South Korean PresidentHoward LutnickHoward Lutnick US Commerce SecretaryKim Jung-kwanKim Jung-kwan South Korean Industry MinisterYoon Hu-duk South Korean ruling party lawmakerWestinghouse US nuclear technology company

South Korea confirms Texas gas plant as first project in $350bn US investment deal
Investing.com News

How it unfolded 3 developments, newest first · click a bar or a number to jump articlesposts

Peak 1 piece in two hours at Sep 18, 4 AM; 4 pieces over 7 days (2 articles · 2 posts) Sep 18, 4 AM — 1 piece · 1 article — Newswires 1Sep 18, 6 AM — quietSep 18, 8 AM — quietSep 18, 10 AM — quietSep 18, 12 PM — quietSep 18, 2 PM — quietSep 18, 4 PM — quietSep 18, 6 PM — quietSep 18, 8 PM — quietSep 18, 10 PM — quietSep 19, 12 AM — quietSep 19, 2 AM — quietSep 19, 4 AM — quietSep 19, 6 AM — quietSep 19, 8 AM — quietSep 19, 10 AM — quietSep 19, 12 PM — quietSep 19, 2 PM — quietSep 19, 4 PM — quietSep 19, 6 PM — quietSep 19, 8 PM — quietSep 19, 10 PM — quietSep 20, 12 AM — quietSep 20, 2 AM — quietSep 20, 4 AM — quietSep 20, 6 AM — quietSep 20, 8 AM — quietSep 20, 10 AM — quietSep 20, 12 PM — quietSep 20, 2 PM — quietSep 20, 4 PM — quietSep 20, 6 PM — quietSep 20, 8 PM — quietSep 20, 10 PM — quietSep 21, 12 AM — quietSep 21, 2 AM — quietSep 21, 4 AM — quietSep 21, 6 AM — quietSep 21, 8 AM — quietSep 21, 10 AM — quietSep 21, 12 PM — quietSep 21, 2 PM — quietSep 21, 4 PM — quietSep 21, 6 PM — 1 piece · 1 post — Mastodon 1Sep 21, 8 PM — quietSep 21, 10 PM — 1 piece · 1 post — Reddit 1Sep 22, 12 AM — quietSep 22, 2 AM — 1 piece · 1 article — Newswires 1Sep 22, 4 AM — quietSep 22, 6 AM — quietSep 22, 8 AM — quietSep 22, 10 AM — quietSep 22, 12 PM — quietSep 22, 2 PM — quietSep 22, 4 PM — quietSep 22, 6 PM — quietSep 22, 8 PM — quietSep 22, 10 PM — quietSep 23, 12 AM — quietSep 23, 2 AM — quietSep 23, 4 AM — quietSep 23, 6 AM — quietSep 23, 8 AM — quietSep 23, 10 AM — quietSep 23, 12 PM — quietSep 23, 2 PM — quietSep 23, 4 PM — quietSep 23, 6 PM — quietSep 23, 8 PM — quietSep 23, 10 PM — quietYesterday, 12 AM — quietYesterday, 2 AM — quietYesterday, 4 AM — quietYesterday, 6 AM — quietYesterday, 8 AM — quietYesterday, 10 AM — quietYesterday, 12 PM — quietYesterday, 2 PM — quietYesterday, 4 PM — quietYesterday, 6 PM — quietYesterday, 8 PM — quietYesterday, 10 PM — quietToday, 12 AM — quietToday, 2 AM — quietToday, 4 AM — quietToday, 6 AM — quiet 123
Sep 19Sep 20Sep 21Sep 22Sep 23yesterdaynow · 7:09 AM ET
  1. 3

    Ministry details Encinal plant terms, flags 90/10 ownership dispute

    South Korea's industry ministry tells lawmakers Seoul plans to invest more than $20 billion in the Encinal, Texas gas plant for expected returns of $43-45 billion over 20 years, that South Korea would fund the project while the US pushes for a 90% long-term US stake versus 10% for Korea, and that Trump is expected to make a final announcement pending review by a US investment committee and talks with Commerce Secretary Howard Lutnick.

    “President Donald Trump is expected to make a final announcement…”
    — South Korea's industry ministry
    1. 1 outlet Factbox-South Korea’s US investment package takes shape with Texas power plant, nuclear projects

      first by Investing.com News, 3d ago

  2. 2

    South Korea confirms Texas power plant as first investment project

    South Korean reporting, picked up on Reddit via Chosun, states the Texas power plant has been confirmed as the first identified project under the broader $350 billion package.

  3. background

    Kim Jung-kwan calls Alaska LNG a 'high-risk business' — South Korea's Industry Minister previously told parliament the long-stalled, Trump-championed Alaska LNG pipeline and export project is risky, as Seoul seeks to include it in the investment memorandum without a binding commitment.

  4. 3 days quiet
  5. 1

    Reuters details projects under discussion in Korea's US package

    A Reuters factbox, citing media reports and a South Korean lawmaker, outlines candidate projects including a 6.3 GW Texas power project, up to eight US nuclear reactors, a Westinghouse equity stake, the Alaska LNG project, and spent nuclear fuel reprocessing — while South Korea's industry ministry says no details have been finalized.

    “high-risk business…”
    — Kim Jung-kwan, South Korea's Industry Minister · source

    1. 1 outlet first by Investing.com News, 7d ago · read ↗