Negotiations Underway for 5-10% Stake Investment in Westinghouse... No Investment If Annual Cap of $20 Billion Is Exceeded

Report on U.S. Investments Presented to the Plenary Session of the Industry, Trade and Energy Committee

The government reported on the 22nd that with regard to U.S. investment, "negotiations are underway for the acquisition of a 5 to 10 percent stake in Westinghouse Electric Company (WEC)."

According to the Industry, Trade, Energy, SMEs and Startups Committee of the National Assembly on the 22nd, regarding the plan to acquire a stake in WEC, it was stated, "It appears that nothing has been finalized yet."

Currently, as the first investment project related to U.S. investment, the Encinal Gas Combined Cycle Power Plant in Texas has been selected, while large-scale nuclear power plant construction is underway as the second and additional projects in the United States.

Regarding liquefied natural gas (LNG) development in Alaska, the government is still deliberating on the matter, and nothing specific has been decided yet.

The government also reported that "if annual U.S. investments exceed the cap of 20 billion dollars, additional investments will not be made."

Kim Junggwan, Minister of Trade, Industry and Energy, attended the plenary session of the Industry, Trade, Energy, SMEs and Startups Committee held at the National Assembly on the 22nd and delivered a speech. On that day, Minister Kim reported privately on the progress and details of the investment negotiations with the United States. September 22, 2026 Photo by Dongju Yoon

Previously, on this day, Kim Junggwan, Minister of Trade, Industry and Energy, announced at the plenary session of the Industry, Trade, Energy, SMEs and Startups Committee at the National Assembly, "I am reporting one project that the government has decided to proceed with, after review by the Project Management Committee chaired by the Minister of Trade, Industry and Energy and the Operating Committee chaired by the Minister of Economy and Finance." He continued, "Although we have not yet decided to officially pursue them, I would like to report plans for two additional projects in line with the interests of both countries."

Minister Kim explained, "The government has worked intensely with the United States to promote projects with commercial viability. It is necessary to approach U.S. investment from a national interest perspective, not simply as an injection and recovery of capital, but as an opportunity to expand our companies' entry into the U.S. market and further establish a foothold for entering the global market."

He added, "Today's report includes sensitive information, such as the details of bilateral negotiations and specific investment terms for the projects. If this information is made public, it could affect major national interests regarding national security and diplomatic relations. There is also a risk of harming companies' business secrets and legitimate interests, so I request that this be handled privately."

This content was produced with the assistance of AI translation services.