South Korea Invests $200B in US Energy Infrastructure
South Korea's government is set to invest up to $200 billion in US energy infrastructure as part of a trade agreement between South Korea and the US. The investment includes a natural gas pipeline in Alaska, known as Alaska LNG, which will transport liquefied natural gas. This pipeline is expected to receive a significant investment of $54 billion from South Korea.
According to President Trump, the deal came about after the US agreed to lower South Korea's tariff rate to 15 percent. The White House described the Alaska LNG project as the largest proposed energy infrastructure project in US history. However, South Korean Industry Minister Kim Jung-kwan disputed this characterization, stating that 'Putting out figures, or using definitive language, goes far beyond what was agreed.'
Trump emphasized the importance of the Alaska pipeline investment, saying it would allow the US to export more natural gas. He also highlighted the involvement of Alaska Sen. Dan Sullivan (R) in the project. The investment will also include a natural gas plant in Texas and eight new nuclear power plants across the country.