South Korea Pushes Back Against Trump's Alaska LNG Investment Claims
South Korea has pushed back against US President Donald Trump's announcement that its investment in the Alaska LNG project had been finalized, stating that participation is conditional on commercial viability and domestic legal requirements.
Industry Minister Kim Jung-kwan said he raised the issue with US Commerce Secretary Howard Lutnick after Trump presented the Alaska project as part of South Korea’s strategic investment package. Kim told reporters that the US announcement went beyond what the two countries had agreed, citing that Seoul had committed to proceeding with the Alaska project only if its commercial viability was established.
Lutnick acknowledged South Korea's concerns and suggested both countries work together to make the project successful. The proposed development involves a pipeline transporting natural gas from northern Alaska to the south and an LNG export terminal.
The ministry confirmed that specific nuclear projects have yet to be finalized, with sites, project structures, and construction schedules requiring further work before individual investment decisions can be made. Seoul secured an annual investment ceiling of $20 billion and an overall cap of $200 billion under the agreed framework, which includes two South Korean-designed APR1400 reactors and six AP1000 reactors.