Trump to Unveil Multi-Billion Dollar Korean Investment Push
US President Donald Trump is reportedly set to announce Korea's investment projects in the United States as early as Wednesday. The projects, valued at $300 billion, are part of a bilateral trade agreement between Seoul and Washington. Under this agreement, South Korea committed to investing in several major US projects, including an LNG project in Alaska.
The Reuters report cited two people familiar with the discussions, stating that Trump's administration plans to use Korea's strategic investment fund for these projects. The LNG project in Alaska is estimated to be worth approximately $54 billion, making it one of the largest investments under this agreement.
Last week, Seoul's Ministry of Trade, Industry and Resources reported that the two countries have chosen to construct a large-scale gas-fired power plant in Texas as their first investment project. The ministry also mentioned plans to build eight large-scale nuclear reactors in the US, along with the LNG project in Alaska.