Trump Threatens to Hike Costs for Korea Over Alaska LNG Project

US President Donald Trump has threatened to increase costs for Korea if it doesn't agree to invest in an Alaska liquefied natural gas (LNG) project. The project involves building a 1,298-kilometer-long pipeline from the North Slope to southern Alaska to transport natural gas cooled into liquid form for shipments to Asia.

The LNG project is part of a larger package of Korea's US investment projects under last year's bilateral trade deal, which also includes the construction of a gas-fired power plant in Texas and eight large-scale nuclear power plants. However, Seoul has yet to finalize its decision on whether to participate in the Alaska project.

In a press availability at the White House, Trump stated that he would 'charge' Korea more if it doesn't sign up for the project, saying 'Tell them if they don't sign shortly, I'm going to double it up.' The exact cost of what he will 'charge' remains unclear.

US Commerce Secretary Howard Lutnick has previously stated that Korea will invest over $50 billion in the Alaska project. Trump's comments come after unveiling the first package of Korea's US investment projects, which he claims consists of these three major projects and eight nuclear power plants.