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

South Korea's government is set to brief lawmakers on Tuesday on its plans for a $350 billion investment package in the United States, a step that officials and legislators have described as among the last before the two allies can finalise implementation of their trade agreement.

The Industry Ministry will appear before the National Assembly's trade committee at 9:30 a.m. local time, according to a parliamentary schedule. The briefing was postponed last week as negotiators worked to narrow differences between US and South Korean demands.

The investment commitment stems from a trade deal struck last year, under which Seoul pledged to invest in US manufacturing in return for a reduction of US tariffs on South Korean goods to 15%. Of the total package, $150 billion has been allocated to shipbuilding, while terms for the remaining $200 billion in strategic investments have yet to be settled.

Projects under discussion include a $22.3 billion, 6.3-gigawatt gas-fired power plant in Encinal, Texas, intended to supply electricity to AI data centres and chip factories. Seoul and Washington are also weighing the construction of as many as eight large nuclear reactors in the United States. South Korea has explored acquiring a minority stake in the US nuclear firm Westinghouse, and the possibility of joining the long-delayed Alaska liquefied natural gas project has also been raised.

President Lee Jae Myung said on Friday that commercial viability had emerged as a sticking point as talks shifted from broad agreement to the details of individual projects. He said Seoul had pushed for the agreement to refer to "commercially reasonable" investments, amid questions over returns, profit-sharing and how losses from unprofitable projects would be handled.

Opposition lawmakers have called for closer parliamentary scrutiny, warning that Seoul could face disproportionate financial risks in energy projects. Kim Sung-won, chair of the trade committee, said on Monday that concerns had grown over the terms for nuclear and power generation investments.

Further delay in implementing the trade deal risks renewed friction with Washington. US President Donald Trump threatened South Korea with higher tariffs earlier this year over the pace of implementation. Lee travelled to the United States on Monday to attend the UN General Assembly, where he is seeking meetings with Trump and other leaders.