Trump to Unveil South Korea's $200 Billion US Investment Plan
South Korea is set to invest $200 billion in the US as part of its plan to develop various energy projects, including the long-stalled Alaska LNG project. The $54 billion project aims to transport natural gas across Alaska and enable most of it to be exported to Asian buyers.
The announcement is expected to be made by President Donald Trump on Wednesday in the Oval Office. This represents a first tranche of projects to win support under last year's US-South Korea trade deal, which included a pledge of $350 billion in US investment.
Korea's backing is likely to be crucial to develop other energy ventures, including nuclear projects, with people familiar with the matter stating that these will also lure some of Korea's investments. Privately-held Glenfarne Group is developing the Alaska LNG project, which has so far signed preliminary agreements with LNG importers but has stopped short from making a final investment decision.