South Korea picks first US investment project
South Korea has selected its first project under a massive US investment deal. Lawmakers will review a Texas gas plant and other energy initiatives. The trade agreement aims to cut tariffs on South Korean goods.
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South Korea selected a $22.3 billion gas-fired power plant as its first project under a $350 billion investment deal with the United States on Tuesday. The selection comes as Seoul seeks to finalize a trade pact that reduced US tariffs on South Korean goods to 15%. Implementing the bilateral agreement has faced delays over commercial viability and financial risk concerns.
