South Korea to Brief Lawmakers on $350 Billion US Investment Package

South Korea’s government is set to brief lawmakers on Tuesday about its proposed $350 billion US investment package as Seoul and Washington work to finalize a trade agreement that lowered US tariffs on South Korean goods to 15%.

The Industry Ministry will brief the National Assembly’s trade committee at 9:30 a.m. Tuesday, according to the parliamentary schedule. The meeting was postponed last week as negotiators continued discussions over key investment terms.

Lawmakers have described the briefing as one of the final steps before South Korea and the United States can settle the package and formally announce implementation details.

Under the trade agreement reached last year, Seoul committed $350 billion in US investments in exchange for lower tariffs. Of that amount, $150 billion is designated for shipbuilding, while negotiations continue over the remaining $200 billion in strategic investments.

Potential projects reportedly include a $22.3 billion, 6.3-gigawatt gas-fired power plant in Encinal, Texas, designed to provide electricity for AI data centers and semiconductor facilities. Seoul and Washington are also discussing plans for as many as eight large nuclear reactors in the United States.

South Korea has considered acquiring a minority stake in US nuclear company Westinghouse, while participation in the long-delayed Alaska liquefied natural gas project has also been discussed.

President Lee Jae Myung said Friday that commercial viability has emerged as a major issue as negotiations shift from the overall framework to individual projects. Seoul wants investments to be “commercially reasonable,” particularly regarding expected returns, profit-sharing arrangements and responsibility for losses on unsuccessful projects.

Opposition lawmakers have called for greater parliamentary oversight, citing concerns that South Korea could assume excessive financial risks from nuclear and power-generation projects.

Delays could also revive trade tensions with Washington after US President Donald Trump previously threatened higher tariffs over the pace of implementing the agreement.

Lee traveled to the United States on Monday for the UN General Assembly and is seeking meetings with Trump and other world leaders as negotiations continue.