Seoul is funding a 6.3 gigawatt gas-fired power plant in Encinal, Texas, to meet the power requirements of semiconductor plants and artificial intelligence data centers. The $22 billion facility, located about 40 miles north of Laredo, will be owned equally between the South Korean and US governments, with Seoul providing the full investment. This project marks the start of a broader $350 billion US investment deal.

Further proposals within the package include an LNG facility in Alaska and a 5% to 10% stake in Westinghouse that would retain voting rights for South Korea. The government is not planning to suggest semiconductor investment in the US, focusing instead on energy and nuclear reactors. Trump will make the final decision on the overall plan, and funds are transferable within 45 days of a US request.