U.S.-Korea framework backs $120 billion nuclear buildout

Brookfield Asset Management said on Sept. 30, 2026 that it welcomed a new strategic framework between the U.S. government and the Republic of Korea to support deployment of Westinghouse technology in the United States. The framework commits up to $120 billion of Korean investment to help finance construction of eight large nuclear reactors.

For investors and traders watching the nuclear supply chain, the key point is that the framework is tied to physical buildout, not just a policy statement. It covers six Westinghouse AP1000 reactors and two Korean APR1400 reactors, all on U.S. federal sites designated by the U.S. government. Westinghouse said it would benefit from an upfront payment, guaranteed scope of work on the reactors and a contract to provide fuel-fabrication services.

The agreement also calls for a cornerstone equity investment of between 5% and 10% in Westinghouse by Korea. Brookfield chief executive Connor Teskey said the announcement would mobilize significant capital and accelerate deployment at scale, while Westinghouse president and chief executive Dan Sumner called it a defining moment for U.S. nuclear energy and the U.S.-Korea partnership.

Brookfield said the new framework follows a strategic partnership announced in October 2025 between the Department of Commerce, Westinghouse and its shareholders Brookfield and Cameco to fund at least $80 billion of Westinghouse nuclear reactors in the U.S. on federal sites. It is separate from the Department of Energy’s strategic partnership announced in June 2026, including a $17.5 billion conditional loan funding arrangement to support the purchase of long-lead items. The terms are non-binding and still subject to final negotiations.