Trump unveils $200bn Korean investment in US; Seoul hedges on Alaska pipeline

On Wednesday, US President Donald Trump announced a $200 billion investment plan by the Republic of Korea, according to official White House statements. However, Seoul quickly clarified that a $54 billion pipeline for an LNG project in Alaska was not yet finalized. The investment package, part of a broader $350 billion agreement, also included $150 billion for shipbuilding and $200 billion for strategic investments.

Trump highlighted projects like eight nuclear power plants, a gas pipeline, and a power generation facility in Texas during his address from the Oval Office. The pipeline's potential political impact in Alaska, where Republican Senator Dan Sullivan is up for re-election, was noted by the administration. Seoul confirmed the investment in Texas and eight nuclear reactors but said the pipeline's future would depend on commercial and legal conditions.

The Ministry of Industry in Seoul expressed regret over the announcement exceeding previous agreements. The Korea government hopes the investment announcement will improve discussions on security and other areas. The Alaska LNG project, if built, would transport about 3.9 billion cubic feet of natural gas daily and produce up to 20 million metric tons of LNG annually.

However, uncertainties over cost, financing, and commercial viability have plagued the project for years.