"South Korea, U.S. Fail to Reach Agreement on Westinghouse Stake Investment"

[Financial News] South Korea and the United States have yet to reach an agreement on an equity investment in U.S. nuclear power company Westinghouse Electric Company, it was learned on the 22nd.
The Westinghouse Electric Company equity investment is one of the key issues in the ongoing negotiations between South Korea and the United States over South Korean investment in the United States.
According to industry sources and foreign media reports, the South Korean government entered negotiations seeking to secure an approximately 20% stake in Westinghouse Electric Company in connection with a project to build eight new nuclear power plants in the United States. The U.S. side, however, reportedly set the maximum stake at around 7%.
South Korea has sought an approximately 20% stake, along with board participation and other substantive voting rights, to improve the unfavorable contract terms agreed upon when it won a nuclear power plant project in the Czech Republic and to strengthen its competitiveness in future overseas nuclear plant bids.
The source also told Reuters that the Ministry of Trade, Industry and Energy reported to the National Assembly that a Texas gas-fired power plant project was a candidate for the first investment project in the United States.


[email protected] Lee Seok-woo, international affairs specialist Reporter