Trump Unveils Up to $200bn South Korea Investment Plan Including Eight Large-Scale US Nuclear Power Plants

Donald Trump announced at the White House on 30 September that South Korea would invest up to $200bn (£150.5bn) in US projects, including eight large-scale nuclear power plants.

The plan follows a trade agreement reached with Seoul in 2025. South Korea confirmed the nuclear investment and a Texas gas power project, but said participation in an Alaska pipeline would depend on commercial and legal conditions.

South Korea Confirms Eight US Nuclear Reactors and Texas Gas Power Project

Seoul said it would invest $120bn (£90.3bn) to build eight nuclear reactors, alongside $22.3bn (£16.8bn) for a gas power project in Texas supplying electricity to artificial intelligence data centres.

'Thanks to the agreements my administration has secured with the Republic of Korea, they will invest up to US$200 billion,' Trump said from the Oval Office.

The projects are part of a broader strategic investment package worth approximately $350bn (£263.4bn), agreed with Washington in 2025. That package allocated approximately $150bn (£112.9bn) to shipbuilding, with the remainder reserved for strategic investments.

The announcement marked the first set of major projects identified under the trade agreement, bringing together plans for electricity generation and energy exports.

South Korea's industry ministry said last week that the gas-fired power plant in Encinal, Texas, was the first project selected under the strategic investment programme. The ministry described its capacity as more than 6 gigawatts.

South Korean officials said the Texas project had passed reviews of its commercial viability. It is expected to serve energy-intensive facilities, including semiconductor plants and data centres.

The proposed nuclear plants form part of Trump's effort to expand US electricity generation as demand rises from data centres and manufacturing.

Alaska LNG Pipeline Investment Remains Subject to Commercial and Legal Conditions

Seoul's qualification concerned the proposed Alaska LNG project, involving about $54bn (£40.6bn) in planned investment. Its government said participation would proceed only if commercial and legal requirements were satisfied.

The 1,298 km pipeline would carry natural gas from Alaska's North Slope to a liquefaction facility on the state's southern coast, where the fuel could be shipped to Asian markets.

According to the White House, the project is designed to transport about 110 million cubic metres of gas daily and produce up to 20 million metric tonnes of liquefied natural gas annually.

Trump has repeatedly promoted Alaska LNG as a means of increasing US energy exports and strengthening ties with South Korea and Japan.

The project has faced years of uncertainty over costs, financing and commercial viability. South Korean investment could help finance it, although Seoul has previously required projects within its US investment package to meet commercial viability standards.

Japan's JERA and Tokyo Gas have signed preliminary agreements to buy a combined 2 million metric tonnes annually if Alaska LNG is built.

Developer Glenfarne said in March that it had lined up commitments for 13 million tonnes a year but needed another 3 million to obtain financing and make all commitments binding.

South Korean opposition lawmakers have questioned the commercial viability and fiscal risks of investing in US projects.

Trump has been promoting investment agreements ahead of November's midterm elections amid voter concerns over the Iran war and high petrol prices.

Republican Senator Dan Sullivan, who attended the announcement, faces a competitive re-election contest in Alaska against Democrat Mary Peltola.