Trump details US$200bil in US energy investments by South Korea

President Donald Trump announced Wednesday that South Korea will support US$200 billion in energy investments across the United States. This includes $54 billion towards a significant liquefied natural gas (LNG) project in Alaska, along with eight new nuclear plants and a large natural gas-fired plant in Texas. These investments were announced in an Oval Office ceremony attended by top administration officials, including Energy Secretary Chris Wright and Interior Secretary Doug Burgum.

The announcement comes as part of South Korea's commitment under a trade deal signed with President Trump in July 2025. Under the agreement, South Korea pledged to invest $350 billion in the US and increase its purchases of American energy, with a 15% tariff on South Korean goods imported into the US.

The Alaska LNG project, led by Glenfarne Group, a developer based in New York and Houston, plans to construct an 800-mile pipeline to transport natural gas from the Alaska North Slope to a liquefaction facility near Anchorage for export to Asia. While the project has been considered before, concerns over costs and consumer demand for LNG have previously stalled progress.

Alaska's rich petroleum history has fueled expectations for LNG development, but environmental concerns have often hindered progress. However, the Trump administration has taken a hard stance, cancelling climate regulations and promoting an energy dominance agenda that favors fossil fuel development.

The push for these energy projects faces a potential labor shortage, with the US projected to need to fill 1.7 million skilled trade openings by 2035, according to a report from the Alliance for America's Skilled Trades. The report found that current training programs produce only 55 workers for every 100 needed.