LONDON — South Korea is set to announce 21 billion pounds ($26.3 billion) of investments in U.K. renewable energy and infrastructure projects during President Yoon Suk Yeol’s state visit to the country this week.

The deal, which includes 9.7 billion pounds from South Korea’s sovereign wealth fund to be deployed over 10 years, will be announced at the U.K.-Korea Business Forum on Wednesday as both sides seek stronger business ties. Apart from the government, Shinhan Financial Group is the next-biggest investor with plans to plow 2 billion pounds into renewables and infrastructure projects in the U.K.