Ministry of Industry Reports on 'U.S. Investment' to the National Assembly of the Republic of Korea: "Negotiating with the U.S. over a 5–10% Stake in Westinghouse Electric"
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- 2026-09-22 11:34:23
- Updated
- 2026-09-22 11:34:23
The Ministry of Industry told the Trade, Industry, Energy, SMEs and Startups Committee that it had selected Texas gas-fired power generation as Project No. 1 of its U.S. investment initiatives. Project No. 2 involves the construction of eight large nuclear power plants in the United States, while Project No. 3 will pursue the development of liquefied natural gas (LNG) in Alaska.
Minister Kim Jung-kwan said in public remarks to the committee that one of the U.S. investment projects had been decided. He added that the other two would be pursued going forward, reflecting the interests of both South Korea and the United States.
The Ministry of Industry also said it was continuing negotiations with the United States to secure a stake in Westinghouse Electric as part of the construction of eight new large nuclear power plants in the country. The negotiations were understood to be ongoing for a stake in the 5–10% range.
The Ministry of Industry also reaffirmed the principle under the initial agreement that no additional investment would be made if the annual $20 billion or total $200 billion investment cap for U.S. projects was exceeded.
One committee member told reporters, "The Ministry of Industry says the Texas gas-fired power generation project is profitable," adding, "The Alaska LNG development project has not yet taken concrete shape. It is too early to assess its commercial viability."
[email protected] Kim Hyeong-gu and Song Ji-won Reporter