South Korea is preparing to announce a major energy investment package in the United States to support U.S. artificial intelligence infrastructure, according to The Wall Street Journal. People familiar with the matter said the package could be worth more than $100 billion and may include funding for as many as eight nuclear power plants and one natural gas project.
The planned announcement is described as a long-awaited step linked to a trade agreement reached last year between Washington and Seoul. Under that deal, President Donald Trump and South Korean President Lee Jae-myung agreed in October to lower most U.S. tariffs on South Korea from 25% to 15%, including tariffs affecting the country’s auto sector. In return, South Korea pledged $350 billion in U.S. investment and an additional $100 billion in purchases of American energy.
No projects had previously been finalized, a delay that drew frustration from U.S. officials, including Trump. The report said Trump threatened in January to raise tariffs on South Korea again. The two sides are now close to finalizing two agreements, with an announcement possible as early as next week.
South Korea is set to announce a large energy investment project in the United States to support U.S. artificial intelligence construction, according to The Wall Street Journal. The move would mark a long-awaited step under a trade agreement reached last year between Washington and Seoul.
People familiar with the matter said the package could be worth more than $100 billion. The plan calls for South Korean funding to build as many as eight nuclear power plants and one natural gas project in the U.S.
According to the report, Donald Trump and Lee Jae-myung reached an agreement in October last year under which the U.S. would cut most tariffs on South Korea from 25% to 15%, including tariffs affecting the South Korean auto sector. In exchange, South Korea committed to invest $350 billion in the U.S. and purchase an additional $100 billion of American energy.
No projects had been launched previously, which led to dissatisfaction among U.S. officials, including Trump, the report said. Trump had also threatened in January to raise tariffs on South Korea again.
The two sides are now close to finalizing two agreements, and an announcement could come as early as next week.
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