Seoul Walks Back Trump's Claims on $200B Energy Investment
South Korea has agreed to invest billions of dollars in US energy projects as part of a July 2025 trade deal. The deal sets 15 percent tariffs on imports from South Korea and includes a plan for Seoul to increase purchases of American energy. However, the two governments have differing views on the scope of their agreement.
US President Donald Trump announced on Wednesday that South Korea would invest $200 billion in US energy projects, including $54 billion for a liquefied natural gas (LNG) project in Alaska. Seoul's trade ministry clarified that no decision has been made to invest in the Alaska project and any investment will depend on its commercial viability.
The two governments are also working on a $22.3 billion natural gas power facility in Texas, which will supply power to co-located data centers. The facility is expected to come fully online by 2032. Additionally, they are moving forward with an $120 billion nuclear power program to build eight large-scale reactors in the US.