South Korea has laid out plans for three major energy projects in the US as part of a $350 billion investment package agreed with Washington, seeking to advance strategic investments while securing exemptions from US import tariffs, Reuters reported.

The package includes a $22.3 billion gas-fired power plant in Encinal, Texas, that will supply electricity directly to AI data centers. The 6.47-gigawatt (GW) facility is expected to enter commercial operation in 2029, according to the South Korean government.

US President Donald Trump announced the investment package during a White House briefing on September 30, with Seoul providing further details on the projects a day later.

South Korea is also set to invest $120 billion in eight nuclear reactors in the US, including two units based on its APR-1400 reactor design. The specific scope and details of the nuclear projects have yet to be finalized.

Meanwhile, Seoul and Washington will assess the development of pipelines and a liquefied natural gas (LNG) export terminal in Alaska. The proposed project will move forward only if commercial and legal conditions are considered viable.

Under a legally binding agreement, South Korea’s annual investment in the projects will be limited to $20 billion. Profits will be shared equally between the two countries until South Korea has recovered its principal investment across the projects.

The new commitments build on a growing South Korean investment presence in the US, spanning semiconductors, batteries, LNG and power infrastructure.