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Wall St Engine
@wallstengine
Fast, accurate, consistent stock market news, earnings highlights & more. By Brillinsight. Not financial advice.
๊ฐ€์ž… March 2022
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SOUTH KOREA ๐Ÿ‡ฐ๐Ÿ‡ท UNVEILS $120B US ๐Ÿ‡บ๐Ÿ‡ธ NUCLEAR PLAN AND $22.3B TEXAS GAS POWER PROJECT South Korea said it will invest $120B to build eight nuclear reactors in the US, two of them using its APR1400 design, though the specific projects haven't been decided. Seoul and Washington also launched a $22.3B gas power project in Texas that will supply 6.47 GW to AI data centers, with commercial operation expected by 2029. Seoul is also seeking stake investments by South Korean companies in Westinghouse, and the two countries will review an Alaska LNG pipeline and export terminal that will proceed only if commercial and legal conditions are met. Under a legally binding operating agreement, South Korea's US investments are capped at $20B a year, with profits split 50-50 until Korea recoups its principal on each project. South Korea's industry minister said the US has indicated its tariff rate on South Korean goods will stay at 15%, per Yonhap.
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