South Korea, US Agree on About $22.3 Billion Texas Gas Plant Investment, Media Report

South Korea’s planned investment in a Texas gas project has been put at about $22.3 billion in a report that Seoul’s Industry Ministry said contained inaccuracies.

The project would involve building a 6.3-gigawatt gas plant in Encinal, Texas, to meet rising electricity demand from artificial intelligence data centers, Korean media outlet Edaily reported, citing unidentified officials and politicians. It would be Seoul’s first US investment under a trade agreement signed by the two allies last year.

Under that agreement, South Korea pledged $350 billion in US investments in exchange for favorable US tariffs on South Korean goods. The reports did not specify whether Seoul would bear the full cost of the Texas project.

South Korea is also considering other possible US projects, including a large nuclear power plant or a liquefied natural gas project in Alaska, the reports said. The Industry Ministry said consultations with Washington were still underway, making it difficult to confirm specific details.

The ministry said the government would announce the project after negotiations with the United States were complete and after procedures such as parliamentary approval were considered. In a separate statement, it said no decision had been made to build a nuclear power plant in the United States.