A proposed $120 billion Korean nuclear power investment could finance the construction of eight nuclear reactors across four US states under a new framework announced at the White House.
The non-binding Project Power framework would involve six Westinghouse AP1000 reactors and two APR1400 reactors developed in Korea. The projects are planned for federal sites in Ohio, Tennessee, Kentucky and South Carolina.
The proposal forms part of a broader US-Korea nuclear power investment framework that could involve up to $350 billion in Korean investment following a trade agreement earlier this year.
Six reactors would use Westinghouseโs AP1000 technology, while two would use the APR1400 design developed by Korea Electric Power Corp. and Korea Hydro & Nuclear Power. The programme could help address a major challenge facing the US nuclear industry: financing large-scale reactor construction.
The APR1400 has been at the centre of a long-running intellectual property dispute between Westinghouse and Kepco because the Korean design incorporates Westinghouse technology. The companies reached a settlement in January 2025. Project Power would require a one-time waiver to allow the two APR1400 reactors to be built in the US.
Under the framework, Westinghouse would receive $2 billion for each APR1400, including an upfront payment, guaranteed reactor work and long-term nuclear fuel fabrication contracts. Korean companies could also acquire a 5%-10% stake in Westinghouse.
Westinghouse is preparing for a potential initial public offering after filing confidential documents with US regulators in July.
Industry consultant Paul Murphy said the progress was a โpositive signโ but noted that โthereโs still a lot of work to be doneโ before final terms are settled.
If finalized, Project Power could provide financing for new US nuclear projects and support the governmentโs goal of expanding nuclear generation capacity. It could also help Westinghouse move toward its target of having 10 AP1000 reactors under construction by 2030.