South Korean Prime Minister Han Seung-soo stated that the government’s $350 billion investment in the United States should not only benefit one side but must provide substantial advantages to both countries while maintaining commercial viability.
During a special meeting hosted by the American Chamber of Commerce in Korea at the Shilla Hotel in Seoul, Han emphasized the importance of ensuring profitability from the investments. He noted, "I have received reports that discussions on how to secure returns on investments are progressing well," adding, "I believe the process is moving smoothly between the authorities."
He further remarked, "If a good model emerges from the first project, it will facilitate smoother development in many more areas in the future."
The first project under consideration is the construction of a gas-fired combined cycle power plant in Encinada, Texas, which is reportedly being negotiated at around $22.3 billion.
Meanwhile, Minister of Trade, Industry and Energy Kim Jeong-kwan traveled to the United States the day before and is expected to continue discussions with U.S. officials, including Secretary of Commerce Howard Lutnick, regarding the investment until September 12. The $350 billion investment includes $150 billion for shipbuilding cooperation and $200 billion for strategic investments.
* This article has been translated by AI.
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