Finance Minister Lee Hyoung-il said the funding is for a gas-fired plant intended to supply AI data centers.
South Korea has transferred $2.4 billion to the United States toward a Texas energy project, Finance Minister Lee Hyoung-il said Tuesday during a parliamentary audit. He said the money was sent Thursday and represents about 10% of the project’s estimated cost.
Project Star involves a 6,472-megawatt combined-cycle gas-fired power plant intended to supply artificial-intelligence data centers. The project is estimated to cost $22.3 billion.
Lee said the project meets commercial-viability requirements. A separate proposal, Project North, involving a possible pipeline and liquefied natural gas terminal in Alaska, remains under review. South Korea’s industry ministry has said no investment decision has been finalized and that commercial viability and other factors must be assessed.