$22.3 billion investment deal between South Korea and the US in Texas gas plant project
South Korea and the United States have agreed on a $22.3 billion investment for a new gas plant in Encinal, Texas. The project aims to supply power to AI data centers and serves as Seoul's first U.S. investment under their recent trade agreement.
Officials from South Korea and the United States reached an agreement regarding the size of South Korea's planned investment in a natural gas facility in Texas. The total investment is approximately $22.3 billion. This project would involve constructing a 6.3-gigawatt gas plant in Encinal, Texas. The goal is to meet rising power demand for artificial intelligence data centers located nearby. According to Korean media, this initiative represents South Korea's first U.S. investment made under the trade agreement signed last year. Under that deal, Seoul pledged $350 billion worth of investments into the United States in exchange for favorable tariffs on Korean imports. Reports state the project is intended to address growing energy needs driven by technology growth. Media sources indicate South Korea is also considering other potential projects in the US, including a large-scale nuclear power plant or another liquefied natural gas project in Alaska. The South Korean Industry Ministry stated it could not confirm the specific details of the investment process.
