Trump Defends $200 Billion South Korea Investment Amid Pipeline Doubts
US President Donald Trump defended his announcement of a $200 billion South Korean investment in US projects, including an Alaska LNG project that has been planned for decades. The plan involves constructing an 800-mile pipeline from the North Slope to an LNG liquefaction facility in Nikiski, costing more than twice as much as a comparable US Gulf Coast plant.
Trump stated he did not 'jump the gun' on announcing the investment, but Seoul quickly suggested one key element, a $54 billion pipeline for the Alaska LNG project, was not yet set in stone. The official from Seoul's industry ministry said they were surprised by Trump's claim that the agreement includes $8.4 billion for a project to push out crude from an aging oilfield.
The US trade deal with South Korea includes $200 billion for various projects, including the construction of eight large nuclear power plants, a natural gas pipeline, and a 6-gigawatt power plant in Texas, according to Trump. This announcement marks the first set of major projects under a broader $350 billion strategic investment package South Korea made as part of a trade agreement with Washington last year.