South Korea Unveils New Overseas Construction Strategy on July 5, Backs Nevada Lithium-Boron Plant Project

According to South Korea's Ministry of Land, Infrastructure and Transport, the government unveiled the 5th Overseas Construction Promotion Plan on July 5, shifting the sector from construction-focused work toward high-value industries combining advanced technology and global finance. The plan supports emerging project types including small modular reactors (SMR), data centers, and floating offshore LNG plants, with backing from new infrastructure funds and partnerships with global developers and multilateral development banks.

The first execution case involves a Korean delegation dispatched to Washington D.C. from July 5-9 to attend a memorandum of understanding signing for Nevada's lithium and boron plant construction project. Hyundai Engineering is pursuing engineering, procurement, and construction involvement, while the Korea Overseas Infrastructure and Urban Development Corporation (KIND) is advancing equity investment. The project benefits from a U.S. Department of Energy loan commitment.