Trump Unveils $200B Korea Investment Plans, Including Alaska LNG Project
US President Donald Trump announced details of South Korea's investment plans in the United States at the White House on September 30. The plans include a liquefied natural gas (LNG) project in Alaska, which involves constructing a 1,298-kilometer-long pipeline to transport natural gas from the North Slope to southern Alaska for shipment to Asia.
The LNG project is part of South Korea's $350 billion investment commitment under last year's bilateral trade agreement. The agreement required South Korea to invest $150 billion in the shipbuilding sector and the remainder for strategic investments, in return for lower US tariffs on Korean goods.
Trump highlighted the investment plans as he underscored his economic achievements ahead of the November midterm elections amid public concerns over the monthslong war with Iran that has left energy prices high and deepened economic uncertainties.