South Korea to invest US$200bil into US energy projects, Trump announces
WASHINGTON: President Donald Trump announced Wednesday US$200 billion in US energy investments from South Korea, including US$54 billion toward a long-discussed liquefied natural gas project in Alaska.
President Donald Trump announced on Wednesday that South Korea will invest $200 billion into US energy projects, including $54 billion for a liquefied natural gas (LNG) project in Alaska. The announcement also included funding for eight new nuclear plants and a large natural gas-fired plant in Texas. These investments come in response to a tariff deal previously made with South Korea, where Seoul agreed to invest $350 billion in the United States and increase its purchases of American energy.
The $200 billion investment is part of a $350 billion deal signed in July 2025, which set 15% tariffs on South Korean goods imported into the United States. Energy Secretary Chris Wright and Interior Secretary Doug Burgum joined the president for a ceremony in the Oval Office, along with Alaska Republican Senator Dan Sullivan, who is facing a tough reelection bid.
The Alaska LNG project, championed by Glenfarne Group, aims to build an 800-mile pipeline to transport natural gas from the North Slope to a liquefaction facility near Anchorage for export to Asia. This project has faced challenges due to concerns about costs and demand. Despite environmental concerns, the Trump administration has pushed an "energy dominance" agenda that favors fossil fuel development, canceling regulations aimed at reducing emissions that contribute to global warming.
The energy projects also face a potential labor shortage, as the U.S. needs to fill an estimated 1.7 million skilled trade openings by 2035, according to a report by the Alliance for America's Skilled Trades.
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