Seoul is reviewing a proposal by Washington, with Korea looking to build two of the first four and the United States taking the lead on the other two.
The Korean government is considering spending $120 billion of its U.S. investment package on eight nuclear reactors in the United States, with negotiations potentially resulting in a memorandum of understanding as early as Sept. 18.
Of the first four, Korea would build two and the United States would construct the other two.
The Ministry of Trade, Industry and Resources told the ruling Democratic Party during a closed-door government-party meeting Monday that Washington proposed last month using Seoul’s U.S. investment fund to build nuclear power plants under a “comprehensive framework” and that the government is reviewing the proposal, according to multiple attendees.
A comprehensive framework refers to a binding agreement that establishes the overall structure and direction of a deal while leaving detailed rules to be worked out later.
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