Seoul selects first US investment project under $200b agreement

South Korea has selected the construction of a gas-fired combined-cycle power plant in Encinal, Texas, as the first project under its $200 billion strategic investment initiative in the United States. Minister of Trade, Industry and Resources Kim Jung-kwan reported the decision to the National Assembly on Tuesday. According to officials, the Encinal project is designed to respond to rapidly growing electricity demand in Texas, where semiconductor factories and artificial intelligence data center

Source: The Korea Herald