South Korea Follows Japan's Playbook With $22.3 Billion Texas Gas Bet

AI Summary

South Korea has committed to a $22.3 billion investment in a gas-fired power complex in Encinal, Texas, following Japan's strategic approach. The project aims to support electricity demand for data centers and semiconductor fabs in the United States.

Ten months, one tariff threat and several "sleepless nights" later, South Korea has finally found somewhere to put the first piece of the $350 billion it promised to invest in America. The winner is a gas-fired power complex in Encinal, Texas (population 540, where real estate is about to go ballistic), and it is built to feed the one thing Washington can never get enough of: electricity for data centers and chip fabs. According to the FT, Seoul this week chose the proposed $22.3 billion, 6.3-gigawatt complex. The White House could…