Trump Touts $54B South Korea Investment in Alaskan Natural Gas Project
US President Donald Trump announced in the Oval Office that South Korea plans to invest $54 billion in a natural gas project in Alaska. The proposed pipeline, which would stretch 807 miles from the North Slope to a liquefied natural gas export terminal in southern Alaska, has been a long-time effort led by Republican Senator Dan Sullivan. Sullivan faces a competitive challenge from Democrat Mary Peltola and praised Trump for his support.
Trump said the investment would be a major economic boost for Alaska, but South Korean officials were more cautious. Secretary-General Han Jeoungae of President Lee Jae Myung's liberal Democratic Party stated that the project's commercial viability needs to be thoroughly reviewed before committing to the investment. Trump and Alaskan leaders described the project as nearing completion, but this contradicts South Korea's assessment.
The announcement comes as part of a series of high-profile economic deals touted by Trump ahead of the midterm elections. On Monday, he announced plans for a $15 billion steel plant in Iowa, where Republican Rep. Ashley Hinson is facing a competitive challenge from Democrat Josh Turek. The project's viability has raised concerns among Democrats and voters, with only one-third of Americans approving of Trump's handling of the economy.