Trump Announces $200B South Korean Investment in US Energy Projects
US President Donald Trump announced that South Korea will invest $200 billion in US energy projects, including a multibillion-dollar liquefied natural gas project in Alaska. The investment is part of last year's bilateral trade agreement between the two countries.
The announcement was made on September 28, 2026, in the Oval Office at the White House, alongside US Secretary of Commerce Howard Lutnick. According to Reuters, Trump could announce plans to use South Korea's strategic investment fund for several major projects, including approximately $54 billion for the Alaska LNG project.
The report also stated that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. The press schedule released by the White House on Wednesday included Trump making an announcement with Lutnick at 3:30 p.m. Washington time.