President Lee Jae Myung of South Korea and President Donald Trump of the US. (EPA/Yonhap)
Eleven months after concluding a tariff deal with the US in October 2025, the South Korean government is pursuing a plan to send the US its first investment sum of US$2.2 billion or more by the end of September, the Hankyoreh has learned. Seoul is also making preparations to sign a nuclear power framework that includes the acquisition of shares in the US company Westinghouse.According to accounts from the administration and ruling party figures, the Lee Jae Myung administration plans to announce a plan for US investment projects on Sept. 18 before sending the US its first investment between Sept. 29 and 30.The US has complained of delays in Korea's rollout of pledged investments and demanded their swift announcement and disbursement.The plan for the investment funds is to make use of foreign-denominated assets held by the Bank of Korea and Foreign Exchange Equalization Fund, while making up the difference with the issuance of government-guaranteed bonds and borrowing from overseas financial institutions.As a first step, Seoul is reportedly planning to procure upwards of US$2.2 billion as an investment to send to the US this year.The joint fact sheet signed by the two sides in October 2025 included an agreement for South Korea to provide the US with US$200 billion cash investments, which are to be given in installments of up to US$20 billion per year over a period of 10 years. Based on this, Seoul’s plan appears to be to provide the necessary funds for initial projects this year, with up to US$20 billion annually to be disbursed as of next year.The investment fund targets examined by Seoul at the US’ request have been narrowed to three areas: an initial gas project in Encinal, Texas (US$22.3 billion), a project framework for the construction of eight nuclear power reactors in the US (US$120 billion), and a liquefied natural gas (LNG) project in Alaska (US$67 billion). The total investment in the three projects would amount to US$209.3 billion — higher than the US$200 billion cash investment initially promised to the US.In the area of nuclear power, the Korean government is preparing to sign a framework for a comprehensive system of collaboration among the Korea Electric Power Corporation, Korea Hydro and Nuclear Power, and Westinghouse. The framework reportedly includes plans for Korea’s acquisition of Westinghouse shares.An official with the ruling Democratic Party explained, “The administration is pursuing an acquisition of common shares with voting rights, and discussions are underway on how much will be acquired and whether there will be voting rights.”By Seo Young-ji, staff reporterPlease direct questions or comments to [english@hani.co.kr]
