Democratic Party of Korea: "As the First Investment in the United States, We Expect to Recover Principal and Interest Within 20 Years... Reviewing Safeguards"

[Financial News] The Democratic Party of Korea is optimistic about the possibility of recovering principal and interest from the Texas Encinal gas-fired combined-cycle power project, the first strategic investment project in the United States, with a total value of $22.3 billion. However, the National Assembly plans to continue monitoring whether the safeguards agreed upon by South Korea and the United States, including investment caps and revenue sharing, function properly during the project's implementation.
Kwon Chil-seung, chair of the Democratic Party of Korea's Policy Committee, said at a policy coordination meeting held at the National Assembly of the Republic of Korea on the 1st that he expected "principal and interest to be recoverable within 20 years after commercial operation begins" for the Encinal project. He described it as "a meaningful achievement that protected the national interest based on commercial rationality through intense consultations between South Korea and the United States."
He also explained that safeguards had been put in place to allow the two countries to discuss adjustments to revenue sharing through consultations if major problems arise during the project's implementation.
Kwon added, "We must manage the project so that the safeguards agreed upon by South Korea and the United States—including the annual investment cap, the recovery of principal and interest, revenue sharing, and safeguards for the foreign exchange market—function properly during its implementation." He continued, "The National Assembly will also continue to monitor whether strategic investments in the United States are being pursued in accordance with the principles and procedures set out in the original agreement and the special act."
[email protected] Song Ji-won Reporter