Industry Minister Kim Jung-kwan stated on the 22nd at the full committee meeting of the National Assembly’s Trade, Industry, Energy, SMEs, and Startups Committee, “I will report on 1 case of a project for which the government has decided to proceed, following deliberations by the Project Management Committee—chaired by the Minister of Trade, Industry and Energy—and the Steering Committee—chaired by the Minister of Finance and Economy.”
Minister Kim added, “While no specific projects have yet been decided upon, we would like to report on plans to proceed with 2 cases of projects reflecting the interests of both countries.”
The South Korean government promised a total investment of 350 billion dollars in the U.S., including 150 billion dollars in the shipbuilding sector and 200 billion dollars in strategic investments, under the condition of reducing U.S. tariffs from 25% to 15%. An annual cap of 20 billion dollars was also set for the strategic investments.
Current leading candidates include the construction of the Encinal gas-fired combined cycle power plant in Texas, U.S., and large-scale nuclear power plant construction projects, among others.
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