Commodities
South Korea Rejects Trump Claim on Alaska LNG Investment
South Korea has disputed US President Donald Trump's claim that the country had agreed to invest $54 billion in an Alaska liquefied natural gas project. Industry Minister Kim Jung-kwan said the Korean government only agreed to proceed with the project if it proves economically feasible.
The announcement was made by the Trump administration, but Seoul has expressed its regret over the misunderstanding. Kim stated that what was reported went beyond what had been agreed upon between the two countries.
The Alaska LNG project has been stalled for years due to various reasons, including high costs and feasibility issues. The US Commerce Secretary, Howard Lutnick, was informed of South Korea's concerns by Industry Minister Kim Jung-kwan.