Trump gloats over Korean investment in Alaska LNG project still under review by Seoul

US President Donald Trump on Wednesday unveiled South Korean investments of up to US$200 billion across energy infrastructure projects in the US, including the Alaska LNG project and the construction of eight new nuclear reactors. 

 Until recently, the South Korean government had said the Alaska LNG project required further review, citing concerns over its commercial viability.

 Secretary of Commerce Howard Lutnick, Secretary of the Interior Doug Burgum, Secretary of Energy Chris Wright, and Sen. Dan Sullivan (R-AK) were in attendance as Trump announced the major investment plan from the White House’s Oval Office.

 Trump was sure to note that the trade agreement between the US and South Korea stated that Korea had to invest “hundreds of billions of dollars” in the US in exchange for a tariff cap of 15%.  

 “Japan is paying US$550 billion. Europe pays US$650 billion, and South Korea is about [to pay] US$250 billion,” he said. 

 “Part of that money is going into this project,” Trump emphasized.

 Under the bilateral trade agreement signed in 2025, the total investment was set at US$350 billion, with US$200 billion remaining after $150 billion was allocated to shipbuilding cooperation.

 Wednesday’s announcement unveiled the specific amount of money and regions for investments in the nuclear power grid and Alaska LNG project, in addition to the information on the previously announced Texas power plant. 

 Lutnick confirmed that South Korea was investing its sovereign money and clarified the scope of the three main projects to receive that investment.

 According to the commerce secretary, US$120 billion, plus a US$20 billion contingency, will be allocated for building eight colossal nuclear power plants in Ohio, Tennessee, South Carolina and Kentucky.

 Over US$50 billion will be invested in Alaska for the LNG project, and over US$22 billion will be invested to build a 6.5-gigawatt gas-fired power plant in Texas.

The US administration views the Alaska LNG project as more than an energy infrastructure initiative, saying it could strengthen US energy dominance and reshape the geopolitical landscape.

 Trump declared that the project would “create up to 12,000 construction jobs immediately and 1,000 operational jobs,” emphasizing how Alaska households would be able to save up to US$2,200 per year on energy costs.

 Burgum noted that Alaskan gas would not only reach US territories — Hawaii, Guam, American Samoa, Marianas Islands — but also ship to Japan, South Korea, the Philippines, Taiwan and other allies.

 Trump’s announcement contrasts with the relatively cautious response from the South Korean government on the investment issue.

 The Korean government announced it will pursue the gas-fired power plant project in Texas as the first project to be funded by its US$200 billion strategic investment in the US during a National Assembly briefing on Sept. 22.

 The viability of the project has been confirmed and is estimated to cost US$22.3 billion.  

 On the other hand, the government stated that decisions on the pursuit of the Alaska LNG project and nuclear power framework would be made later due to opaque specific investment terms. The administration stated that it would make a final decision only after assessing the projects’ commercial reasonableness.