South Korea may invest $22.3 billion in a gas power plant in Texas
South Korea may invest $22.3 billion in a 6.3 GW gas power plant in the US state of Texas. Electricity from the plant is planned to be supplied to data centers in the state.
Investment under the agreement
As OilPrice reports, Reuters, citing Korean media, wrote that this investment could become South Korea's first under a trade agreement with the administration of US President Donald Trump.
In total, Seoul has pledged to invest about $350 billion in the United States. According to Korean media, part of the funds could also be directed to a nuclear power plant project or Alaska LNG.
More current news is available on the UA.News Telegram channel Telegram.
Tariffs and energy purchases
In July 2025, Trump announced an agreement providing for a 15% duty on imports from South Korea. It made it possible to avoid the introduction of a 25% tariff that Washington had previously threatened.
Under the agreement, South Korea also committed to purchase $100 billion worth of US liquefied natural gas and other energy resources. At the beginning of 2026, the country also stated its intention to increase oil purchases from the United States.
South Korea is the world's third-largest importer of liquefied natural gas after China and Japan. According to OilPrice, spot prices for liquefied gas for Asia rose to nearly $26 per million British thermal units last week.
