(2nd LD) Trump unveils S. Korea's investment plans for Alaska LNG project, Texas power plant, 8 nuclear reactors

On Wednesday, U.S. President Donald Trump announced South Korea's investment plans under last year's bilateral trade agreement, which includes a Texas gas-fired power plant, eight large-scale nuclear reactors, and a liquefied natural gas (LNG) project in Alaska. These investments are part of a $350 billion commitment from South Korea, with $150 billion going towards shipbuilding and the remainder earmarked for strategic investments.

The announcement came after months of negotiations over major energy infrastructure projects under the agreement, which committed Seoul to investing $350 billion in the U.S.

The Texas project, projected to be the largest ever built, will generate up to 6 gigawatts of power. Eight new nuclear power plants, located across the country, aim to solidify the U.S.'s position as the world's leading producer of nuclear energy. The Alaska LNG project will transport nearly 4 billion cubic feet of natural gas daily from Alaska's North Slope to Asia, a 1,298-kilometer-long pipeline connecting the gas-rich region to the southern part of the state.

Trump emphasized the significance of these investments, calling them "the colossal package" and "one of the largest energy infrastructure investments in American history." The projects are expected to enhance the U.S.'s energy supply chain, ensure energy dominance, and strengthen the partnership between South Korea, the U.S., and the Pacific region.

The agreement, reached during a summit between South Korean President Lee Jae Myung and Trump in October, also saw Washington lowering its tariffs on South Korean goods to 15% from 25%.