Seoul Plans $100bn US Energy Investment for AI

South Korea is preparing an energy project in the United States worth more than $100bn, intended to support the development of artificial intelligence infrastructure. The Wall Street Journal reported this, citing sources familiar with the negotiations.

Seoul is expected to finance the construction of up to eight nuclear reactors and a natural gas project. The first power plant will be built to a design by the American company Westinghouse Electric, while some of the others could use technology from the South Korean firm Korea Electric Power Corporation (KEPCO).

The agreement may also include a natural gas power plant in Texas worth approximately $20bn, which would supply data centers. The investments are expected to take place over several years.

South Korea's ministry of trade noted that the details have not yet been finalized. The White House, which has not made an official announcement, described reports of a possible agreement as baseless speculation.

Presidents Donald Trump and Lee Jae Myung signed a trade agreement last October. Under the agreement, Seoul committed to investing $350bn in US manufacturing in exchange for capping tariffs on South Korean imports at 15%. However, delays in fulfilling the agreement led Trump to threaten to raise tariff rates.

(Reuters, bak)