Brookfield backs US-Korea framework for eight new nuclear reactors
Korea's cornerstone stake in Westinghouse, set at 5% to 10%, settles a point that had been left open last month
Published
Brookfield Asset Management has welcomed a new strategic framework agreement between the United States and South Korea that commits up to $120 billion in Korean investment to help finance eight new nuclear reactors in the US. Six will be Westinghouse AP1000 reactors and two will be Korean APR1400 reactors built with Westinghouse technology.
The framework also sets out a cornerstone equity investment of between 5% and 10% in Westinghouse by Korea. It builds on a partnership between the US government, Brookfield and Cameco announced in October 2025. Brookfield says the terms are non-binding and subject to final negotiations.
The agreement moves the nuclear buildout from a pledge floated in late September into a signed framework with specific reactor counts and a defined range for the Westinghouse stake. It also resolves a sticking point from earlier in the month, when South Korea and the US had not yet agreed on the size of that stake.
For Westinghouse, which is pitching a public listing at a valuation above $50 billion, a cornerstone Korean investor commitment ahead of the IPO strengthens the capital story it has been presenting to investors.