The United States and the Republic of Korea announced a strategic framework agreement on Sept. 30, 2026, committing up to $120 billion in Korean investment to construct eight large nuclear reactors on U.S. federal sites. The deal supports the deployment of Westinghouse nuclear technology, including six AP1000 reactors and two APR1400 units that incorporate Westinghouse designs. Brookfield Asset Management welcomed the agreement, which outlines construction using capabilities from both nations.
What it means
The framework designates three two-unit plants for the six Westinghouse AP1000 reactors and funds two additional APR1400 reactors. Westinghouse will receive an upfront payment, a guaranteed scope of work, and a contract for fuel-fabrication services under the terms. Korea is set to make a cornerstone equity investment ranging from 5% to 10% in Westinghouse as part of the arrangement.
This announcement follows a separate strategic partnership announced in October 2025 between the Department of Commerce, Westinghouse, Brookfield, and Cameco, which aimed to fund at least $80 billion in reactor deployment. It is also distinct from a June 2026 Department of Energy partnership that included a $17.5 billion conditional loan for long-lead items. The terms of the current transaction are non-binding and subject to final negotiations.
Key facts
- $120 billion: Committed Korean investment for reactor construction
- Eight: Total number of large nuclear reactors to be built
- Six: Number of Westinghouse AP1000 reactors included
- Two: Number of Korean APR1400 reactors included
- Three: Number of two-unit plants for the AP1000 units
- 5% to 10%: Range of cornerstone equity investment in Westinghouse by Korea
- Sept. 30, 2026: Date of the strategic framework announcement
- Non-binding: Status of transaction terms pending final negotiations
Source: Strategic framework agreement announcement (U.S. Government and Republic of Korea)