Korea Demands Commercial Viability for Alaska LNG Project

Korea's Minister of Trade, Industry and Resources Kim Jung-kwan said that the country will only invest in Alaska's liquefied natural gas (LNG) project if its commercial viability is established.

This statement comes after U.S. President Donald Trump announced at the White House on Wednesday that Korea would invest more than $50 billion in the project as part of a larger $200 billion investment pledge to the United States.

Kim said that the project's viability will be reviewed under the clear principle that Korea will proceed only if it is established, and that profit-sharing protections and revised Westinghouse terms are necessary to support the country's investment in the U.S. energy sector.