$200 Billion Energy Deal: South Korea Invests in US Infrastructure

South Korea has agreed to invest up to $200 billion in US energy infrastructure as part of a trade deal, President Trump announced on Wednesday. The investment will go towards several projects, including an Alaska LNG pipeline, natural gas plants, and eight new nuclear power plants across the country.

The Alaska LNG project, which is expected to transport liquefied natural gas over 807 miles, is set to receive a $54 billion investment from South Korea. This deal makes it the largest proposed energy infrastructure project in US history, according to the White House.

Trump said that the deal will allow the US to export more natural gas globally and that the country is already the largest producer and exporter of natural gas in the world. The agreement also includes a reduction in tariffs for South Korea from the US, with Trump stating that the tariff rate will be lowered to 15 percent.

The investment is seen as part of the trade deal between the two countries, which was negotiated as a way to balance out the reduced tariff rates for South Korea. The White House has hailed the agreement as a significant win for both parties involved.