South Korea Pumps $200 Billion into US Energy Projects

US President Donald Trump announced on Wednesday that South Korea will invest $200 billion in major US energy and strategic projects, including nuclear power, liquefied natural gas (LNG), and natural gas infrastructure.

The investment package falls under the $350 billion Korea Strategic Trade and Investment Deal reached between Trump and South Korean President Lee Jae-myung last year. Trump said that Washington and Seoul agreed to collaborate on a $50 billion Alaska LNG project, which he claimed 'will deliver transformational change for the People of Alaska.'

The deal also includes an ambitious nuclear power program worth $120 billion to build eight large-scale nuclear reactors in the US. Additionally, South Korea will invest in a $22 billion natural gas-fired power project in Encinal, Texas.