"Let's Build a Korean Nuclear Power Plant in the U.S." Pushed as the First Major Investment Project in America

It was confirmed on the 4th that a South Korean parliamentary delegation to the United States, made up of ruling and opposition lawmakers from the Korea-U.S. Parliamentary Association, plans to visit the United States Congress on the 23rd and propose the construction of a nuclear power plant as a major investment project in the U.S. market. The delegation is also said to have reached substantial prior understanding with the government, which is reviewing candidate projects such as a shale gas development project.
According to multiple political sources, the ruling and opposition parties have agreed to pass the Special Act on the Management of Strategic Investments between Korea and the United States (Special Act on Investment in the United States) at a plenary session of the National Assembly on the 12th, and to include provisions on investment in nuclear power plant construction. Lawmakers from both parties then plan to visit the United States from the 23rd to the 29th, where they will meet with the United States Senate Committee on Energy and Natural Resources and the United States Department of Energy (DOE) to explain the plan in person.
Nuclear power plants had previously been mentioned as one of the potential destinations for the planned 200 billion dollars in investment in the United States. This followed the Donald Trump administration’s declaration of a "nuclear renaissance" to meet electricity demand driven by artificial intelligence (AI). However, the U.S. side has expressed doubts, citing the Lee Jae-myung administration’s policy focus on renewable energy. The ruling and opposition parties now intend to dispel those concerns and elevate nuclear plant construction to a flagship investment project in the United States.
A lawmaker from the Korea-U.S. Parliamentary Association said, "Until last year, President Lee Jae-myung emphasized the renewable energy side, but in January he decided to build two additional nuclear reactors and one small modular reactor (SMR), so we want to convey this shift in the domestic mood regarding nuclear power." The lawmaker added, "Investment in building nuclear power plants in the United States is already being negotiated by the Ministry of Trade, Industry and Resources, and we intend to discuss this with the U.S. Congress and the administration."
The South Korean parliamentary delegation also plans to meet with the United States Senate Committee on Armed Services to discuss the construction of nuclear-powered submarines. President Donald Trump said at the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju last year that he "approves South Korea’s construction of nuclear-powered submarines." If South Korea proceeds with building such submarines, it would become the third non-nuclear-weapon state, after Australia and Brazil, to acquire the capability to build nuclear-powered submarines. However, because the plan envisions South Korea building the hull domestically while receiving nuclear fuel from the United States, approval from the U.S. administration and Congress is required. The delegation is therefore expected to meet with relevant government departments and members of Congress to convey South Korea’s intentions.
Clearing up misunderstandings over regulations on Coupang and online platforms is another key task the delegation must address with U.S. authorities during the visit. The Democratic Party of Korea (DPK) has been pushing the Online Platform Fairness Act, which combines elements of the Monopoly Regulation and Fair Trade Act and the Act to Ensure Fairness in Online Platform Intermediary Transactions. But U.S. tech companies such as Google and Apple have protested that the bill discriminates against foreign firms, and U.S. trade authorities have been closely watching the issue, raising concerns it could become an obstacle in United States–Korea tariff negotiations. In response, the DPK plans to pursue the Act to Ensure Fairness in Online Platform Intermediary Transactions as a separate bill. A ruling-party lawmaker joining the delegation said, "During the visit, we will meet with the Big Tech Association and stress that the Act to Ensure Fairness in Online Platform Intermediary Transactions is intended to protect small domestic merchants, not to discriminate against foreign companies."
jiwon.song@fnnews.com Song Ji-won Reporter