Korea and U.S. reportedly in talks to jointly build 8 large-scale nuclear power plants in the U.S.

According to the South Korean government and political figures on September 7, South Korea and the United States are in the final stages of discussions on a plan to jointly build up to 8 large-scale nuclear power plants in the U.S. The plan is seen as one of the follow-up projects under the Korea-U.S. investment arrangement in the U.S.

Sources say the U.S. side had proposed allocating $120 billion of the $200 billion investment commitment to the construction of 8 nuclear power plants within the framework of investment in the U.S. An additional $150 billion in shipbuilding-related investment falls outside that commitment.

However, the South Korean government reportedly did not accept the proposal to directly specify the exact investment amount, instead preferring to use general wording such as "jointly building 8 nuclear power plants" in relevant documents to preserve room for further coordination.

The related investment projects still require compliance with South Korean domestic legal and administrative procedures. Under the procedures, the projects must be reviewed by the "Korea-U.S. Strategic Investment Management Committee," chaired by the Minister of Trade, Industry and Energy (MOTIE), and deliberated and resolved by the "Korea-U.S. Strategic Investment Operations Committee," chaired by the head of South Korea's finance and economy authorities, followed by a report to the National Assembly.

The report said that if the two sides complete the coordination of details, a memorandum of understanding could be signed as early as the 18th of this month. The South Korean Ministry of Trade, Industry and Energy subsequently stated that the relevant content is "not factual," adding that the two sides remain in consultations and that specific details have not yet been finalized.