South Korea Awaits U.S. Approval for First $22.3B Investment Project

South Korea has completed domestic procedures for the first project under its $200 billion U.S. investment plan — a $22.3 billion combined-cycle LNG power plant in Encinal, Texas. No official U.S. announcement has followed, as the MOU gives President Trump final authority to select projects; Seoul plans to send the first $2.2 billion tranche as early as the end of the month.

• First project is a $22.3B power plant in Encinal, Texas
• Total U.S. investment plan is worth $200 billion
• First $2.2 billion tranche expected by end of month
• MOU gives the U.S. president final say on project selection