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South Korea to invest $200 billion in U.S. projects, with $54 billion for Alaska LNG
Trump announced South Korea will invest $200 billion in U.S. projects, including $54 billion for the Alaska LNG project, plus eight nuclear plants and a 6-gigawatt Texas power facility; Seoul says detailed talks on viability are still needed.
Why it matters
The announcement marks the first concrete tranche of projects under the $350 billion strategic investment package South Korea pledged as part of last year's U.S.–South Korea trade agreement. Placing the long-stalled Alaska LNG project at the center makes Washington's commitment a key test of whether the pledge turns into actual construction and financing.
What was announced
President Donald Trump announced in the Oval Office on Wednesday, alongside Commerce Secretary Howard Lutnick, that South Korea will invest $200 billion in U.S. projects, according to a White House official. The package would include $54 billion for the long-planned Alaska LNG project, eight large-scale nuclear power plants and a 6-gigawatt power generation facility in Texas.
The $350 billion package comprises $150 billion for shipbuilding and $200 billion for strategic investments. The Alaska LNG project would include an 807-mile pipeline carrying natural gas from the North Slope to a liquefaction facility on Alaska's southern coast, designed to transport about 3.9 billion cubic feet of gas per day and produce up to 20 million metric tons of LNG annually for shipment to Asian markets, according to the White House.
Alaska Governor Mike Dunleavy, Senator Dan Sullivan and Representative Nick Begich attended the announcement. White House spokeswoman Taylor Rogers said the investments deliver on Trump's pledge to "unleash American energy, unlock Alaska's extraordinary resource potential, and accelerate America's nuclear energy renaissance."
Seoul remains cautious
South Korea has been more cautious. According to the Seoul Economic Daily, detailed negotiations are still needed to establish commercial viability for the eight nuclear reactors and the Alaska LNG project, and the two governments have so far agreed on a specific direction for only one project, the combined-cycle power plant in Texas. The Alaska LNG project, estimated at $44.5 billion to $54.5 billion, is being developed by Glenfarne Group (75%) with the State of Alaska holding 25%, and has not reached a final investment decision.
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